90,059 Shares in Leggett & Platt, Inc. (LEG) Purchased by Millennium Management LLC

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Millennium Management LLC acquired a new position in Leggett & Platt, Inc. (NYSE:LEG) in the second quarter, Holdings Channel reports. The firm acquired 90,059 shares of the company’s stock, valued at approximately $4,020,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in LEG. Dimensional Fund Advisors LP raised its stake in Leggett & Platt by 42.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,034,888 shares of the company’s stock valued at $45,908,000 after buying an additional 307,448 shares during the last quarter. Russell Investments Group Ltd. raised its stake in Leggett & Platt by 22.9% during the 1st quarter. Russell Investments Group Ltd. now owns 78,552 shares of the company’s stock valued at $3,474,000 after buying an additional 14,613 shares during the last quarter. LPL Financial LLC raised its stake in Leggett & Platt by 27.3% during the 1st quarter. LPL Financial LLC now owns 16,819 shares of the company’s stock valued at $746,000 after buying an additional 3,609 shares during the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in Leggett & Platt by 6.4% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 59,112 shares of the company’s stock valued at $2,622,000 after buying an additional 3,570 shares during the last quarter. Finally, CIBC World Markets Inc. purchased a new stake in Leggett & Platt during the 1st quarter valued at $582,000. Institutional investors own 77.46% of the company’s stock.

In other news, insider Matthew C. Flanigan sold 15,672 shares of the business’s stock in a transaction on Thursday, August 23rd. The shares were sold at an average price of $46.00, for a total transaction of $720,912.00. Following the completion of the sale, the insider now owns 116,341 shares of the company’s stock, valued at approximately $5,351,686. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Matthew C. Flanigan sold 29,248 shares of the business’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $44.09, for a total transaction of $1,289,544.32. Following the sale, the insider now directly owns 115,039 shares of the company’s stock, valued at approximately $5,072,069.51. The disclosure for this sale can be found here. Insiders own 1.52% of the company’s stock.

Shares of LEG opened at $38.61 on Friday. The firm has a market cap of $5.70 billion, a price-to-earnings ratio of 15.70, a P/E/G ratio of 1.57 and a beta of 0.84. The company has a quick ratio of 1.23, a current ratio of 1.90 and a debt-to-equity ratio of 1.15. Leggett & Platt, Inc. has a 1-year low of $38.27 and a 1-year high of $51.99.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, July 26th. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.09 billion. Leggett & Platt had a net margin of 6.83% and a return on equity of 27.73%. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.64 EPS. Sell-side analysts expect that Leggett & Platt, Inc. will post 2.62 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Monday, September 24th were given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date was Friday, September 21st. Leggett & Platt’s payout ratio is 61.79%.

LEG has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. ValuEngine upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $48.20.

Leggett & Platt Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

Further Reading: Average Daily Trade Volume Explained

Want to see what other hedge funds are holding LEG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Leggett & Platt, Inc. (NYSE:LEG).

Institutional Ownership by Quarter for Leggett & Platt (NYSE:LEG)

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