Leggett & Platt Inc. (LEG) Sets New 12-Month High at $53.37
Leggett & Platt Inc. (NYSE:LEG) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $53.37 and last traded at $53.21, with a volume of 186,769 shares changing hands. The stock had previously closed at $53.17.
Separately, Zacks Investment Research downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Tuesday, April 5th.
The company has a market cap of $7.19 billion and a price-to-earnings ratio of 22.19. The stock’s 50-day moving average price is $50.91 and its 200 day moving average price is $46.91.
Leggett & Platt (NYSE:LEG) last posted its 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 firm had revenue of $938.40 million for the quarter, compared to the consensus estimate of $960.47 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The firm’s revenue was down 2.9% compared to the same quarter last year. On average, analysts predict that Leggett & Platt Inc. will post $2.52 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 13th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.54%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.32.
In other news, CFO Matthew C. Flanigan sold 20,000 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $51.01, for a total transaction of $1,020,200.00. Following the completion of the transaction, the chief financial officer now directly owns 118,013 shares in the company, valued at approximately $6,019,843.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Karl G. Glassman sold 22,580 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 475,937 shares of the company’s stock, valued at $23,830,165.59. The disclosure for this sale can be found here.
Other hedge funds recently modified their holdings of the company. Gulf International Bank UK Ltd increased its stake 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. Wells Fargo & Company MN increased 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 in the last quarter. Sei Investments Co. increased its stake in shares of 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 in the last quarter. WBI Investments Inc. bought a new stake in shares of Leggett & Platt during the fourth quarter worth about $2,790,000. Finally, TD Asset Management Inc. increased its stake 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.
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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