Leggett & Platt, Inc. (NYSE:LEG) Director Robert Ted Enloe III sold 6,849 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $52.58, for a total value of $360,120.42. Following the completion of the transaction, the director now owns 39,166 shares in the company, valued at approximately $2,059,348.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of NYSE LEG traded down $0.41 during trading on Monday, hitting $51.91. 668,285 shares of the company were exchanged, compared to its average volume of 1,177,102. Leggett & Platt, Inc. has a 12-month low of $33.48 and a 12-month high of $55.42. 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 company has a fifty day moving average price of $49.23 and a 200-day moving average price of $41.28. The firm has a market capitalization of $6.89 billion, a PE ratio of 20.93 and a beta of 1.10.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.76 EPS for the quarter, topping the consensus estimate of $0.67 by $0.09. Leggett & Platt had a return on equity of 28.04% and a net margin of 6.45%. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts anticipate that Leggett & Platt, Inc. will post 2.56 earnings per share for the current fiscal year.
A number of brokerages have weighed in on LEG. Stifel Nicolaus lowered Leggett & Platt from a “buy” rating to a “hold” rating and raised their price objective for the company from $52.00 to $55.00 in a report on Tuesday, November 19th. ValuEngine upgraded Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. TheStreet upgraded Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, September 27th. Finally, SunTrust Banks lowered Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $55.00.
Several hedge funds and other institutional investors have recently bought and sold shares of LEG. Stonebridge Capital Advisors LLC acquired a new stake in shares of Leggett & Platt during the 2nd quarter worth about $25,000. Quest Capital Management Inc. ADV acquired a new stake in shares of Leggett & Platt during the 3rd quarter worth about $27,000. Advisory Services Network LLC increased its position in shares of Leggett & Platt by 25.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock worth $48,000 after purchasing an additional 250 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Leggett & Platt by 386.0% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,322 shares of the company’s stock worth $50,000 after purchasing an additional 1,050 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in shares of Leggett & Platt by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 1,280 shares of the company’s stock worth $52,000 after purchasing an additional 256 shares during the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.
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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