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

Separately, Zacks Investment Research downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Tuesday, April 5th.

The company’s 50 day moving average price is $50.16 and its 200-day moving average price is $46.34. The stock has a market capitalization of $6.99 billion and a P/E ratio of 21.56.

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

The company 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 dividend of $0.34 per share. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Monday, June 13th.

In other news, Director Robert Ted Enloe III sold 4,103 shares of the business’s stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $49.00, for a total value of $201,047.00. Following the sale, the director now directly owns 37,398 shares of the company’s stock, valued at approximately $1,832,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Matthew C. Flanigan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $51.01, for a total transaction of $1,020,200.00. Following the completion of the sale, the chief financial officer now directly owns 118,013 shares in the company, valued at $6,019,843.13. The disclosure for this sale can be found here.

Several large investors recently added to or reduced their stakes in LEG. World Asset Management Inc increased its stake in Leggett & Platt by 27.0% in the fourth quarter. World Asset Management Inc now owns 29,041 shares of the company’s stock worth $1,220,000 after buying an additional 6,182 shares during the period. Suntrust Banks Inc. increased its stake in 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. Hamilton Point Investment Advisors LLC increased its stake in Leggett & Platt by 10.3% in the fourth quarter. Hamilton Point Investment Advisors LLC now owns 40,448 shares of the company’s stock worth $1,700,000 after buying an additional 3,775 shares during the period. Nationwide Fund Advisors increased its stake in Leggett & Platt by 1.4% in the fourth quarter. Nationwide Fund Advisors now owns 41,267 shares of the company’s stock worth $1,734,000 after buying an additional 557 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in Leggett & Platt by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 43,385 shares of the company’s stock worth $1,823,000 after buying an additional 450 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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