Leggett & Platt, Inc. (NYSE:LEG) has been given a consensus recommendation of “Buy” by the ten analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, two have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $54.67.
LEG has been the topic of several research reports. SunTrust Banks reiterated a “buy” rating and issued a $53.00 price objective on shares of Leggett & Platt in a report on Friday, October 27th. Piper Jaffray Companies set a $49.00 price objective on shares of Leggett & Platt and gave the company a “buy” rating in a report on Wednesday, October 11th. Zacks Investment Research downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt in a report on Thursday, September 7th.
Shares of Leggett & Platt (NYSE LEG) traded up $0.11 on Friday, reaching $47.73. 516,500 shares of the company were exchanged, compared to its average volume of 793,433. The firm has a market capitalization of $6,310.00, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.78 and a beta of 1.03. Leggett & Platt has a fifty-two week low of $43.17 and a fifty-two week high of $54.97. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.11 and a current ratio of 1.74.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 12th. Stockholders of record on Friday, December 15th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.02%. Leggett & Platt’s payout ratio is presently 58.30%.
In other news, SVP Scott S. Douglas sold 3,000 shares of the business’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares of the company’s stock, valued at $1,639,174.05. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.78% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of LEG. Schwab Charles Investment Management Inc. lifted its position in Leggett & Platt by 6.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 820,051 shares of the company’s stock worth $43,078,000 after purchasing an additional 51,765 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its stake in Leggett & Platt by 1.1% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 272,512 shares of the company’s stock worth $14,315,000 after acquiring an additional 2,995 shares in the last quarter. Principal Financial Group Inc. raised its stake in Leggett & Platt by 0.4% during the second quarter. Principal Financial Group Inc. now owns 208,284 shares of the company’s stock worth $10,941,000 after acquiring an additional 839 shares in the last quarter. Swiss National Bank raised its stake in Leggett & Platt by 2.8% during the second quarter. Swiss National Bank now owns 487,336 shares of the company’s stock worth $25,600,000 after acquiring an additional 13,500 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Leggett & Platt by 25.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 3,137 shares of the company’s stock worth $165,000 after acquiring an additional 634 shares in the last quarter. 68.47% of the stock is owned by institutional investors and hedge funds.
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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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