Leggett & Platt, Incorporated (NYSE:LEG) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $43.68 and last traded at $43.70, with a volume of 1,492,720 shares. The stock had previously closed at $46.54.

LEG has been the subject of several research reports. Zacks Investment Research lowered Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Piper Jaffray Companies initiated coverage on Leggett & Platt, in a research report on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price for the company. BidaskClub lowered Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Gabelli initiated coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price for the company. Finally, Credit Suisse Group initiated coverage on Leggett & Platt, in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the stock. Leggett & Platt, currently has an average rating of “Hold” and an average price target of $56.88.

The stock’s 50-day moving average price is $48.03 and its 200-day moving average price is $50.63. The company has a market capitalization of $5.74 billion, a price-to-earnings ratio of 17.21 and a beta of 1.00.

Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The business had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter in the previous year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Equities research analysts forecast that Leggett & Platt, Incorporated will post $2.56 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Investors of record on Friday, September 15th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s payout ratio is currently 57.14%.

In related news, insider Matthew C. Flanigan sold 19,589 shares of Leggett & Platt, stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the completion of the transaction, the insider now owns 159,522 shares in the company, valued at $7,909,100.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.78% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Leggett & Platt, by 3.2% during the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock worth $776,664,000 after purchasing an additional 481,689 shares during the period. BlackRock Inc. boosted its holdings in shares of Leggett & Platt, by 0.6% during the second quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock worth $631,381,000 after acquiring an additional 76,484 shares during the period. US Bancorp DE boosted its holdings in shares of Leggett & Platt, by 2.3% during the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock worth $107,072,000 after acquiring an additional 46,071 shares during the period. Franklin Resources Inc. boosted its holdings in shares of Leggett & Platt, by 0.9% during the second quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock worth $83,249,000 after acquiring an additional 13,837 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Leggett & Platt, by 2.6% during the first quarter. Bank of New York Mellon Corp now owns 1,478,104 shares of the company’s stock worth $74,379,000 after acquiring an additional 36,833 shares during the period. Institutional investors and hedge funds own 68.98% of the company’s stock.

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Leggett & Platt, Company Profile

Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.

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