Leggett & Platt, Inc. (NYSE:LEG) Receives Average Recommendation of “Hold” from Analysts

Shares of Leggett & Platt, Inc. (NYSE:LEG) have received a consensus rating of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company.

LEG has been the topic of a number of analyst reports. Raymond James downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Finally, SunTrust Banks downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th.

NYSE LEG traded down $0.41 during trading on Monday, reaching $53.21. 1,313,742 shares of the company’s stock traded hands, compared to its average volume of 1,174,615. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.74 and a quick ratio of 1.05. The firm has a market cap of $7.04 billion, a price-to-earnings ratio of 21.46 and a beta of 1.12. The company’s 50 day simple moving average is $45.39 and its two-hundred day simple moving average is $40.33. Leggett & Platt has a 12-month low of $33.48 and a 12-month high of $55.42.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, October 28th. The company reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.09. The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.21 billion. Leggett & Platt had a net margin of 6.45% and a return on equity of 28.04%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. Research analysts expect that Leggett & Platt will post 2.56 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date is Thursday, December 12th. Leggett & Platt’s payout ratio is currently 64.52%.

In related news, SVP Russell J. Iorio sold 26,475 shares of Leggett & Platt stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $51.86, for a total value of $1,372,993.50. Following the completion of the sale, the senior vice president now directly owns 81,667 shares in the company, valued at approximately $4,235,250.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Karl G. Glassman sold 10,683 shares of Leggett & Platt stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $42.13, for a total transaction of $450,074.79. Following the completion of the sale, the chief executive officer now owns 460,505 shares of the company’s stock, valued at $19,401,075.65. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,027 shares of company stock worth $4,421,734. Insiders own 1.45% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp boosted its stake in Leggett & Platt by 0.3% in the 2nd quarter. Northern Trust Corp now owns 1,493,556 shares of the company’s stock worth $57,308,000 after purchasing an additional 4,815 shares in the last quarter. Commerzbank Aktiengesellschaft FI acquired a new stake in Leggett & Platt in the 2nd quarter worth approximately $457,000. Janney Montgomery Scott LLC boosted its stake in Leggett & Platt by 10.9% in the 3rd quarter. Janney Montgomery Scott LLC now owns 45,207 shares of the company’s stock worth $1,851,000 after purchasing an additional 4,454 shares in the last quarter. Holocene Advisors LP boosted its stake in Leggett & Platt by 68.7% in the 2nd quarter. Holocene Advisors LP now owns 71,401 shares of the company’s stock worth $2,740,000 after purchasing an additional 29,073 shares in the last quarter. Finally, Advisory Services Network LLC boosted its stake in Leggett & Platt by 25.1% in 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 in the last quarter. Institutional investors own 78.25% 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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