Leggett & Platt, Incorporated (NYSE: LEG) has received an average rating of “Hold” by the six brokerages that cover the company, reports MarketBeat. Three research analysts rated the stock with a conservation rating and two gave the company a buy rating. The twelve month average price target among brokers who reported on the stock in the past year is $ 48.20.
Several stock analysts recently published reports on the stock. Raymond James increased his target price on Leggett & Platt shares from $ 48.00 to $ 60.00 and gave the company an “outperformance” rating in a research note on Wednesday, May 5. Zacks investment research downgraded Leggett & Platt’s shares from a “buy” rating to a “keep” rating and set a target price of $ 52.00 for the company. in a report on Tuesday April 20.
NYSE: LEG opened at $ 54.67 on Tuesday. The company has a debt ratio of 1.34, a quick ratio of 0.99, and a current ratio of 1.80. Leggett & Platt has a twelve month low of $ 31.10 and a twelve month high of $ 59.16. The 50-day moving average for the stock is $ 51.86. The stock has a market cap of $ 7.29 billion, a P / E ratio of 25.79, a PEG ratio of 2.03 and a beta of 1.49.
Leggett & Platt (NYSE: LEG) last reported quarterly results on Monday, May 3. The company reported EPS of $ 0.64 for the quarter, beating the consensus estimate of $ 0.42 by $ 0.22. Leggett & Platt had a net margin of 6.60% and a return on equity of 24.02%. The company posted revenue of $ 1.15 billion in the quarter, compared to analysts’ expectations of $ 1.13 billion. During the same period of the previous year, the company posted EPS of $ 0.41. The quarterly turnover of the activity is up 10.1% compared to the same quarter last year. As a group, research analysts expect Leggett & Platt to post earnings per share of 2.71 for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 15. Shareholders of record on Tuesday, June 15 will receive a dividend of $ 0.42. This is a positive change from Leggett & Platt’s previous quarterly dividend of $ 0.40. This represents an annualized dividend of $ 1.68 and a return of 3.07%. The ex-dividend date is Monday June 14. Leggett & Platt’s dividend payout ratio is currently 75.12%.
In related news, SVP Susan R. McCoy sold 1,000 Leggett & Platt shares in a trade on Friday, May 7th. The shares were sold for an average price of $ 56.76, for a total value of $ 56,760.00. As a result of the transaction, the Senior Vice President now directly owns 27,053 shares of the company, valued at approximately $ 1,535,528.28. The transaction has been disclosed in a legal file with the SEC, which can be accessed via this link. In addition, director Joseph W. Mcclanathan sold 1,500 shares of Leggett & Platt in a trade on Tuesday, May 18. The shares were sold at an average price of $ 55.61, for a total trade of $ 83,415.00. Following the completion of the transaction, the director now owns 27,041 shares of the company, valued at $ 1,503,750.01. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 22,677 shares of the company valued at $ 1,282,302. Insiders own 1.53% of the company’s shares.
A number of large investors have recently bought and sold stocks. Norges Bank acquired a new stake in Leggett & Platt in the fourth quarter valued at $ 59,200,000. BlackRock Inc. increased its stake in Leggett & Platt shares by 9.1% during the 1st quarter. BlackRock Inc. now owns 10,943,968 shares of the company valued at $ 499,590,000 after purchasing an additional 910,934 shares during the last quarter. Hamlin Capital Management LLC increased its stake in Leggett & Platt shares by 65.5% during the 1st quarter. Hamlin Capital Management LLC now owns 1,901,416 shares of the company valued at $ 86,800,000 after purchasing an additional 752,559 shares during the last quarter. Janus Henderson Group PLC increased its stake in Leggett & Platt shares by 45.5% during the 1st quarter. Janus Henderson Group PLC now owns 2,148,358 shares of the company valued at $ 98,073,000 after purchasing an additional 672,327 shares during the last quarter. Finally, Avalon Investment & Advisory acquired a new position in shares of Leggett & Platt during the 1st quarter with a value of $ 14,425,000. Hedge funds and other institutional investors hold 72.18% of the company’s shares.
About Leggett & Platt
Leggett & Platt, Incorporated designs, manufactures and markets engineered components and products around the world. It operates through three segments: Bedding products; Specialty products; and Furniture, floor coverings and textile products. The company offers steel rods, drawn wire, foam chemicals and additives, springs, specialty foams, private label finished mattresses, box springs, adjustable bed forms, sewing machines and industrial quilting, and mattress packaging and glue drying equipment, as well as machines for shaping wire into internal springs for industrial users of steel rods and wires, finished bedding manufacturers, retailers in big box and online, bedding brands and mattress retailers, department stores and home improvement centers.
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