Leggett & Platt Inc. (NYSE:LEG) shares hit a new 52-week high during trading on Thursday . The company traded as high as $51.48 and last traded at $50.88, with a volume of 234,584 shares changing hands. The stock had previously closed at $51.12.

Separately, Zacks Investment Research raised Leggett & Platt from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Tuesday, May 3rd.

The firm has a market cap of $6.83 billion and a PE ratio of 21.08. The stock’s 50 day moving average price is $49.98 and its 200-day moving average price is $46.24.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Thursday, April 28th. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The business earned $938.40 million during the quarter, compared to analyst estimates of $960.47 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The firm’s revenue was down 2.9% on a year-over-year basis. On average, equities research analysts forecast that Leggett & Platt Inc. will post $2.52 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Monday, June 13th. This is an increase from Leggett & Platt’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.66%.

In other news, CEO Karl G. Glassman sold 22,580 shares of the business’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $50.07, for a total value of $1,130,580.60. Following the sale, the chief executive officer now directly owns 475,937 shares in the company, valued at $23,830,165.59. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Matthew C. Flanigan sold 20,000 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $51.01, for a total value of $1,020,200.00. Following the completion of the sale, the chief financial officer now owns 118,013 shares in the company, valued at $6,019,843.13. The disclosure for this sale can be found here.

Other hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Leggett & Platt by 2.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 524,703 shares of the company’s stock worth $22,050,000 after buying an additional 14,637 shares during the period. WBI Investments Inc. purchased a new stake in shares of Leggett & Platt during the fourth quarter worth approximately $2,790,000. Suntrust Banks Inc. raised its stake in shares of Leggett & Platt by 28.3% in the fourth quarter. Suntrust Banks Inc. now owns 38,976 shares of the company’s stock worth $1,636,000 after buying an additional 8,588 shares during the period. Schroder Investment Management Group raised its stake in shares of Leggett & Platt by 81.7% in the fourth quarter. Schroder Investment Management Group now owns 632,773 shares of the company’s stock worth $26,589,000 after buying an additional 284,427 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Leggett & Platt by 2.4% in the fourth quarter. Wells Fargo & Company MN now owns 794,903 shares of the company’s stock worth $33,402,000 after buying an additional 18,563 shares during the period.

Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings segment, which manufactures steel coiled bedsprings; Commercial Fixturing & Components segment, which include work furniture group that designs, manufactures, and distributes a range of engineered components and products primarily for the office seating market; Industrial Materials segment consists of wire group, which operates a steel rod mill and tubing group, which supplies welded steel tubing and Specialized Products segment designs, manufactures and sells products, including automotive seating components, specialized machinery and equipment, and service van interiors.

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