Leggett & Platt, Incorporated (NYSE:LEG) Receives $54.83 Average PT from Analysts

Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $56.43.

A number of equities research analysts have commented on LEG shares. Piper Jaffray Companies restated a “buy” rating and issued a $59.00 price target on shares of Leggett & Platt, in a report on Friday, July 14th. BidaskClub upgraded shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a report on Saturday, June 17th. Zacks Investment Research cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Monday, May 15th. Gabelli initiated coverage on shares of Leggett & Platt, in a report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective for the company. Finally, Hilliard Lyons upgraded shares of Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 price objective for the company in a report on Monday, July 24th.

Leggett & Platt, (NYSE LEG) opened at 46.97 on Friday. The company has a 50-day moving average price of $51.18 and a 200-day moving average price of $50.86. Leggett & Platt, has a one year low of $44.02 and a one year high of $54.97. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 18.64 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. The company had revenue of $989.30 million during the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.66 earnings per share. Equities research analysts anticipate that Leggett & Platt, will post $2.60 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s payout ratio is currently 57.14%.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the sale, the insider now owns 159,522 shares of the company’s stock, valued at $7,909,100.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.78% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in LEG. Vanguard Group Inc. raised its stake in shares of Leggett & Platt, by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock valued at $776,664,000 after buying an additional 481,689 shares in the last quarter. BlackRock Inc. raised its stake in shares of Leggett & Platt, by 0.6% in the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock valued at $631,381,000 after buying an additional 76,484 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of Leggett & Platt, by 8.7% in the first quarter. Thomaspartners Inc. now owns 3,821,679 shares of the company’s stock valued at $192,307,000 after buying an additional 305,900 shares in the last quarter. US Bancorp DE raised its stake in Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock valued at $107,072,000 after buying an additional 46,071 shares during the period. Finally, Franklin Resources Inc. raised its stake in Leggett & Platt, by 0.9% in the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock valued at $83,249,000 after buying an additional 13,837 shares during the period. 72.10% of the stock is currently owned by institutional investors and hedge funds.

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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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