Leggett & Platt (NYSE:LEG) insider Karl G. Glassman sold 10,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $47.41, for a total transaction of $474,100.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of LEG stock opened at $43.93 on Monday. The firm has a market capitalization of $5,809.30, a P/E ratio of 17.86, a PEG ratio of 1.42 and a beta of 0.87. Leggett & Platt has a one year low of $41.25 and a one year high of $54.97. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.81 and a quick ratio of 1.22.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.02). The company had revenue of $984.00 million for the quarter, compared to the consensus estimate of $998.32 million. Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.53 earnings per share. sell-side analysts predict that Leggett & Platt will post 2.75 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.28%. Leggett & Platt’s payout ratio is presently 58.54%.
Several hedge funds and other institutional investors have recently modified their holdings of LEG. TimesSquare Capital Management LLC bought a new position in shares of Leggett & Platt during the third quarter valued at $81,509,000. Bank of New York Mellon Corp lifted its holdings in shares of Leggett & Platt by 78.4% during the third quarter. Bank of New York Mellon Corp now owns 2,549,592 shares of the company’s stock valued at $121,693,000 after acquiring an additional 1,120,320 shares during the period. Renaissance Technologies LLC bought a new position in shares of Leggett & Platt in the fourth quarter valued at about $34,671,000. Sarasin & Partners LLP raised its holdings in shares of Leggett & Platt by 106.0% in the third quarter. Sarasin & Partners LLP now owns 1,212,946 shares of the company’s stock valued at $57,894,000 after buying an additional 624,208 shares during the last quarter. Finally, BlackRock Inc. raised its holdings in shares of Leggett & Platt by 2.6% in the fourth quarter. BlackRock Inc. now owns 12,462,751 shares of the company’s stock valued at $594,849,000 after buying an additional 320,930 shares during the last quarter. 73.69% of the stock is owned by institutional investors.
Several brokerages recently commented on LEG. Zacks Investment Research raised Leggett & Platt from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research report on Wednesday, January 10th. Gabelli raised Leggett & Platt from a “hold” rating to a “buy” rating in a research report on Wednesday, February 7th. Finally, Piper Jaffray reaffirmed a “hold” rating and issued a $48.00 target price on shares of Leggett & Platt in a research report on Tuesday, January 23rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Leggett & Platt currently has an average rating of “Hold” and an average price target of $55.00.
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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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