Leggett & Platt, Inc. (NYSE:LEG) has been given an average rating of “Hold” by the nine analysts that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $45.60.
A number of research analysts have issued reports on LEG shares. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, October 26th. Zacks Investment Research upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Monday, October 1st. SunTrust Banks lowered their price objective on Leggett & Platt to $40.00 and set an “outperform” rating for the company in a research note on Tuesday, October 30th. Raymond James cut Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 price objective for the company. in a research note on Monday, October 29th. Finally, ValuEngine cut Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd.
Several hedge funds have recently bought and sold shares of the company. NewSquare Capital LLC raised its stake in shares of Leggett & Platt by 2.9% in the fourth quarter. NewSquare Capital LLC now owns 23,381 shares of the company’s stock worth $838,000 after purchasing an additional 659 shares during the last quarter. First American Bank raised its stake in shares of Leggett & Platt by 4.9% in the fourth quarter. First American Bank now owns 50,810 shares of the company’s stock worth $1,821,000 after purchasing an additional 2,372 shares during the last quarter. Capital Investment Advisors LLC raised its stake in shares of Leggett & Platt by 5.6% in the fourth quarter. Capital Investment Advisors LLC now owns 7,149 shares of the company’s stock worth $256,000 after purchasing an additional 378 shares during the last quarter. Palisade Asset Management LLC raised its stake in shares of Leggett & Platt by 0.6% in the fourth quarter. Palisade Asset Management LLC now owns 62,011 shares of the company’s stock worth $2,222,000 after purchasing an additional 400 shares during the last quarter. Finally, Winthrop Advisory Group LLC purchased a new position in shares of Leggett & Platt in the fourth quarter worth $223,000. Hedge funds and other institutional investors own 76.61% of the company’s stock.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.72 by ($0.05). The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. As a group, equities research analysts predict that Leggett & Platt will post 2.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 15th. Stockholders of record on Friday, December 14th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 3.89%. The ex-dividend date was Thursday, December 13th. Leggett & Platt’s dividend payout ratio is currently 61.79%.
About Leggett & Platt
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.
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