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

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

The stock has a market capitalization of $7.07 billion and a price-to-earnings ratio of 21.82. The company’s 50-day moving average is $50.54 and its 200 day moving average is $46.60.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, April 28th. The company reported $0.63 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 analysts’ expectations of $960.47 million. During the same quarter last year, the business posted $0.50 earnings per share. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Leggett & Platt Inc. will post $2.52 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Monday, June 13th.

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

Other hedge funds and institutional investors have recently made changes to their positions in the company. Gulf International Bank UK Ltd raised its position in shares of 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 in the last quarter. Nationwide Fund Advisors raised its position in shares of 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 in the last quarter. TD Asset Management Inc. raised its position in shares of Leggett & Platt by 0.9% in the fourth quarter. TD Asset Management Inc. now owns 75,836 shares of the company’s stock worth $3,187,000 after buying an additional 700 shares in the last quarter. Swiss National Bank raised its position in shares of Leggett & Platt by 0.9% in the fourth quarter. Swiss National Bank now owns 248,036 shares of the company’s stock worth $10,422,000 after buying an additional 2,200 shares in the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. raised its position in shares of Leggett & Platt by 1.2% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 224,169 shares of the company’s stock worth $9,536,000 after buying an additional 2,674 shares in the last quarter.

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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