Leggett & Platt, Inc. (NYSE:LEG) declared a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.40 per share on Wednesday, January 15th. This represents a $1.60 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, December 12th.
LEG traded down $0.74 during midday trading on Tuesday, reaching $51.41. The company had a trading volume of 27,491 shares, compared to its average volume of 1,042,203. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.05 and a current ratio of 1.74. The stock has a market cap of $6.98 billion, a PE ratio of 20.72, a P/E/G ratio of 1.60 and a beta of 1.10. Leggett & Platt has a 12-month low of $33.48 and a 12-month high of $55.42. The business has a 50-day moving average price of $51.36 and a two-hundred day moving average price of $42.01.
Leggett & Platt (NYSE:LEG) last released its earnings results on Monday, October 28th. The company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.09. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Leggett & Platt had a net margin of 6.45% and a return on equity of 28.04%. The company’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 earnings per share. On average, research analysts anticipate that Leggett & Platt will post 2.56 earnings per share for the current year.
In related news, SVP Russell J. Iorio sold 6,962 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total transaction of $369,612.58. Following the sale, the senior vice president now directly owns 61,446 shares in the company, valued at approximately $3,262,168.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph W. Mcclanathan sold 4,399 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $54.79, for a total transaction of $241,021.21. Following the sale, the director now owns 25,455 shares in the company, valued at $1,394,679.45. The disclosure for this sale can be found here. Insiders have sold a total of 99,838 shares of company stock worth $5,151,467 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.
A number of research analysts have weighed in on the stock. SunTrust Banks cut shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. TheStreet upgraded shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. Stifel Nicolaus cut shares of Leggett & Platt from a “buy” rating to a “hold” rating and boosted their target price for the company from $52.00 to $55.00 in a research note on Tuesday, November 19th. CJS Securities cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Finally, Goldman Sachs Group assumed coverage on shares of Leggett & Platt in a research note on Friday. They issued a “neutral” rating on the stock. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Leggett & Platt has a consensus rating of “Hold” and a consensus target price of $55.00.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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