Leggett & Platt, Incorporated (NYSE:LEG) Given Consensus Rating of “Hold” by Brokerages

Leggett & Platt, Incorporated (NYSE:LEG) has received a consensus rating of “Hold” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $56.43.

A number of equities research analysts have weighed in on LEG shares. Zacks Investment Research lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Piper Jaffray Companies initiated coverage on shares of Leggett & Platt, in a research note on Monday, June 5th. They issued an “overweight” rating and a $59.00 price objective on the stock. BidaskClub lowered shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research note on Friday, June 9th. Gabelli initiated coverage on shares of Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 price objective on the stock. Finally, Credit Suisse Group initiated coverage on shares of Leggett & Platt, in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 price objective on the stock.

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In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total transaction of $971,222.62. Following 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 SEC, which is accessible through this link. Corporate insiders own 1.78% of the company’s stock.

Several hedge funds have recently made changes to their positions in LEG. Van ECK Associates Corp increased its stake in shares of Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock valued at $107,000 after buying an additional 147 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Leggett & Platt, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock valued at $117,000 after buying an additional 1,096 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of Leggett & Platt, during the first quarter valued at approximately $122,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Leggett & Platt, during the first quarter valued at approximately $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. increased its stake in shares of Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock valued at $135,000 after buying an additional 1,486 shares in the last quarter. Institutional investors own 72.10% of the company’s stock.

Leggett & Platt, (NYSE:LEG) opened at 47.89 on Friday. Leggett & Platt, has a one year low of $44.02 and a one year high of $54.97. The firm has a market cap of $6.34 billion, a PE ratio of 19.00 and a beta of 0.98. The company has a 50-day moving average price of $51.94 and a 200-day moving average price of $50.86.

Leggett & Platt, (NYSE:LEG) last posted its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the Zacks’ consensus estimate 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 period in the previous year, the firm earned $0.66 earnings per share. The company’s revenue was up 3.2% compared to the same quarter last year. Equities analysts predict that Leggett & Platt, will post $2.60 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.36 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.44 annualized dividend and a yield of 3.01%. Leggett & Platt,’s payout ratio is 57.14%.

About Leggett & Platt,

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.

Analyst Recommendations for Leggett & Platt, (NYSE:LEG)

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