Leggett & Platt, Incorporated (NYSE:LEG) SVP Scott S. Douglas sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares in the company, valued at $1,639,174.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Leggett & Platt, Incorporated (LEG) traded up $0.25 during midday trading on Thursday, reaching $46.65. The company’s stock had a trading volume of 623,700 shares, compared to its average volume of 967,499. The company has a current ratio of 1.74, a quick ratio of 1.11 and a debt-to-equity ratio of 0.89. The company has a market cap of $6,116.33, a price-to-earnings ratio of 19.33, a P/E/G ratio of 1.94 and a beta of 1.03. Leggett & Platt, Incorporated 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 results on Thursday, October 26th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1.01 billion. Leggett & Platt, had a return on equity of 29.60% and a net margin of 8.75%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the company posted $0.67 EPS. analysts predict that Leggett & Platt, Incorporated will post 2.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.09%. The ex-dividend date is Thursday, December 14th. Leggett & Platt,’s dividend payout ratio is presently 58.78%.
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LEG has been the subject of a number of research reports. BidaskClub lowered Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research lowered Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Piper Jaffray Companies set a $59.00 price target on Leggett & Platt, and gave the company a “buy” rating in a research note on Monday, August 14th. Stifel Nicolaus reaffirmed a “hold” rating on shares of Leggett & Platt, in a research note on Thursday, September 7th. Finally, SunTrust Banks, Inc. raised Leggett & Platt, from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $53.00 in a research note on Friday, September 22nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, two have given a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $54.29.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LEG. TimesSquare Capital Management LLC bought a new stake in shares of Leggett & Platt, during the 3rd quarter worth $81,509,000. Bank of New York Mellon Corp boosted its stake in shares of Leggett & Platt, by 78.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock worth $121,693,000 after acquiring an additional 1,120,320 shares in the last quarter. Sarasin & Partners LLP boosted its stake in shares of Leggett & Platt, by 106.0% during the 3rd quarter. Sarasin & Partners LLP now owns 1,212,946 shares of the company’s stock worth $57,894,000 after acquiring an additional 624,208 shares in the last quarter. Becker Capital Management Inc. bought a new stake in shares of Leggett & Platt, during the 3rd quarter worth $21,057,000. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Leggett & Platt, during the 2nd quarter worth $22,404,000. 69.52% of the stock is owned by institutional investors and hedge funds.
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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