Leggett & Platt, Inc. (NYSE:LEG) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $52.80 and last traded at $52.55, with a volume of 163,505 shares. The stock had previously closed at $52.59.

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 stock has a 50-day moving average of $50.38 and a 200 day moving average of $46.51. The stock has a market cap of $7.06 billion and a PE ratio of 21.776.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.08. The company earned $938.40 million during the quarter, compared to analysts’ expectations of $960.47 million. During the same period in the prior year, the business earned $0.50 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts forecast that Leggett & Platt, Inc. will post $2.52 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be paid a $0.34 dividend. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 2.59%. The ex-dividend date is Monday, June 13th.

In other Leggett & Platt news, CEO Karl G. Glassman sold 22,580 shares of the firm’s stock in a transaction dated Friday, June 17th. The shares were sold at an average price of $50.07, for a total transaction of $1,130,580.60. Following the transaction, the chief executive officer now owns 475,937 shares of the company’s stock, valued at approximately $23,830,165.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Ted Enloe III sold 4,103 shares of the firm’s stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $49.00, for a total transaction of $201,047.00. Following the transaction, the director now directly owns 37,398 shares in the company, valued at approximately $1,832,502. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have bought and sold shares of LEG. Gulf International Bank UK Ltd increased its position 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. Wells Fargo & Company MN increased its position in 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. Sei Investments Co. increased its position in Leggett & Platt by 5.8% in the fourth quarter. Sei Investments Co. now owns 63,549 shares of the company’s stock worth $2,670,000 after buying an additional 3,494 shares during the period. Hamilton Point Investment Advisors LLC increased its position in shares of 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 last quarter. Finally, WBI Investments Inc. purchased a new position in shares of Leggett & Platt during the fourth quarter worth about $2,790,000.

Leggett & Platt, Incorporated is a manufacturer of engineered components and products found in homes, offices, automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products. The Residential Furnishings segment manufactures steel coiled bedsprings.

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