Leggett & Platt, Incorporated (NYSE:LEG) has received a consensus rating of “Buy” from the eleven analysts that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $54.83.
Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Leggett & Platt, from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Piper Jaffray Companies reiterated a “buy” rating and set a $59.00 price objective on shares of Leggett & Platt, in a research note on Friday. BidaskClub upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research note on Saturday, June 17th. Gabelli assumed coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on shares of Leggett & Platt, in a research note on Thursday, June 22nd. They set a “neutral” rating and a $56.00 price objective on the stock.
Shares of Leggett & Platt, (LEG) traded down 0.23% during trading on Friday, reaching $53.10. The company had a trading volume of 689,791 shares. The stock has a 50 day moving average of $52.15 and a 200 day moving average of $50.44. The stock has a market capitalization of $7.03 billion, a price-to-earnings ratio of 19.33 and a beta of 1.01. Leggett & Platt, has a 52-week low of $44.02 and a 52-week high of $54.97.
Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, April 27th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.03. The firm had revenue of $960.30 million for the quarter, compared to analyst estimates of $958.98 million. Leggett & Platt, had a net margin of 10.14% and a return on equity of 31.91%. Leggett & Platt,’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. Equities research analysts forecast that Leggett & Platt, will post $2.63 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Thursday, June 15th were paid a $0.36 dividend. The ex-dividend date was Tuesday, June 13th. This represents a $1.44 annualized dividend and a dividend yield of 2.71%. This is a positive change from Leggett & Platt,’s previous quarterly dividend of $0.34. Leggett & Platt,’s dividend payout ratio (DPR) is presently 52.36%.
In other Leggett & Platt, news, Director Joseph W. Mcclanathan sold 5,715 shares of the firm’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $52.91, for a total value of $302,380.65. Following the sale, the director now owns 32,314 shares in the company, valued at $1,709,733.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Scott S. Douglas sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $53.26, for a total transaction of $266,300.00. Following the completion of the sale, the senior vice president now owns 36,133 shares in the company, valued at approximately $1,924,443.58. The disclosure for this sale can be found here. Insiders sold 46,320 shares of company stock worth $2,477,652 in the last 90 days. 1.78% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock worth $107,000 after buying an additional 147 shares in the last quarter. TrimTabs Asset Management LLC raised its position in Leggett & Platt, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock worth $117,000 after buying an additional 1,096 shares in the last quarter. Pinnacle Bank bought a new position in Leggett & Platt, during the first quarter worth approximately $122,000. Oppenheimer Asset Management Inc. bought a new position in Leggett & Platt, during the first quarter worth approximately $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised its position in Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock worth $135,000 after buying an additional 1,486 shares in the last quarter. Institutional investors and hedge funds own 72.09% of the company’s stock.
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About Leggett & Platt,
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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