Several other research analysts also recently issued reports on LEG. BidaskClub downgraded shares of Leggett & Platt, from a hold rating to a sell rating in a research report on Sunday, August 6th. Piper Jaffray Companies set a $59.00 price objective on shares of Leggett & Platt, and gave the stock a buy rating in a research report on Monday, August 14th. Zacks Investment Research downgraded shares of Leggett & Platt, from a hold rating to a sell rating in a research report on Tuesday, August 1st. Gabelli assumed coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a hold rating and a $53.00 target price for the company. Finally, Credit Suisse Group assumed coverage on shares of Leggett & Platt, in a research note on Thursday, June 22nd. They issued a neutral rating and a $56.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $55.63.
Leggett & Platt, (NYSE:LEG) opened at 45.30 on Thursday. The company’s 50-day moving average is $47.56 and its 200-day moving average is $50.55. The firm has a market capitalization of $5.99 billion, a P/E ratio of 17.98 and a beta of 1.00. Leggett & Platt, has a 52-week low of $43.17 and a 52-week high of $54.97.
Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The business had revenue of $989.30 million for the quarter, compared to analysts’ expectations of $1 billion. During the same period in the previous year, the business posted $0.66 earnings per share. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, analysts predict that Leggett & Platt, will post $2.49 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.
In other news, insider Matthew C. Flanigan sold 19,589 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the sale, the insider now owns 159,522 shares in the company, valued at approximately $7,909,100.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.78% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. lifted its stake in shares of Leggett & Platt, by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 9,729 shares of the company’s stock worth $511,000 after acquiring an additional 25 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Leggett & Platt, by 0.3% in the second quarter. CIBC Asset Management Inc now owns 12,828 shares of the company’s stock valued at $674,000 after purchasing an additional 44 shares during the period. Ronna Sue Cohen lifted its stake in shares of Leggett & Platt, by 0.6% in the second quarter. Ronna Sue Cohen now owns 8,220 shares of the company’s stock valued at $432,000 after purchasing an additional 47 shares during the period. Gofen & Glossberg LLC IL lifted its stake in shares of Leggett & Platt, by 1.0% in the second quarter. Gofen & Glossberg LLC IL now owns 5,250 shares of the company’s stock valued at $276,000 after purchasing an additional 50 shares during the period. Finally, Trustmark National Bank Trust Department lifted its stake in shares of Leggett & Platt, by 0.9% in the first quarter. Trustmark National Bank Trust Department now owns 6,360 shares of the company’s stock valued at $320,000 after purchasing an additional 59 shares during the period. Institutional investors own 69.00% of the company’s stock.
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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