Leggett & Platt Inc. (NYSE:LEG) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $53.74 and last traded at $53.70, with a volume of 222,834 shares. The stock had previously closed at $53.49.

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

The company has a 50-day moving average of $51.14 and a 200-day moving average of $47.23. The company has a market capitalization of $7.22 billion and a PE ratio of 22.28.

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

The business also recently announced a quarterly dividend, which was paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th were paid a $0.34 dividend. The ex-dividend date was Monday, June 13th. This represents a $1.36 dividend on an annualized basis and a 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 Leggett & Platt 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 sale, the chief financial officer now owns 118,013 shares of the company’s stock, valued at $6,019,843.13. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Ted Enloe III sold 4,103 shares of Leggett & Platt 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 in the company, valued at approximately $1,832,502. The disclosure for this sale can be found here.

Several large investors have added to or reduced their stakes in LEG. Suntrust Banks Inc. boosted 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. Nationwide Fund Advisors boosted 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. Gulf International Bank UK Ltd boosted 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. LS Investment Advisors LLC boosted its stake in Leggett & Platt by 10.2% in the fourth quarter. LS Investment Advisors LLC now owns 52,115 shares of the company’s stock worth $2,190,000 after buying an additional 4,827 shares during the period. Finally, Ameritas Investment Partners Inc. boosted its stake in Leggett & Platt by 86.9% in the fourth quarter. Ameritas Investment Partners Inc. now owns 55,314 shares of the company’s stock worth $2,323,000 after buying an additional 25,714 shares during the period.

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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