BidaskClub cut shares of Leggett & Platt, Incorporated (NYSE:LEG) from a sell rating to a strong sell rating in a report issued on Friday.

A number of other brokerages have also issued reports on LEG. Piper Jaffray Companies set a $59.00 target price on shares of Leggett & Platt, and gave the stock a buy rating in a research report on Monday, August 14th. Credit Suisse Group initiated coverage on shares of Leggett & Platt, in a research report on Thursday, June 22nd. They set a neutral rating and a $56.00 target price on the stock. Zacks Investment Research lowered shares of Leggett & Platt, from a hold rating to a sell rating in a research report on Tuesday, August 1st. Hilliard Lyons raised shares of Leggett & Platt, from a neutral rating to a long-term buy rating and set a $66.00 target price on the stock in a research report on Monday, July 24th. Finally, Gabelli initiated coverage on shares of Leggett & Platt, in a research report on Wednesday, June 21st. They set a hold rating and a $53.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and two have given a strong buy rating to the stock. Leggett & Platt, presently has a consensus rating of Hold and an average price target of $56.88.

Shares of Leggett & Platt, (LEG) opened at 44.96 on Friday. The stock has a market capitalization of $5.95 billion, a PE ratio of 17.84 and a beta of 0.98. Leggett & Platt, has a 12 month low of $44.02 and a 12 month high of $54.97. The company has a 50-day moving average of $49.52 and a 200-day moving average of $50.74.

Leggett & Platt, (NYSE:LEG) last announced its earnings results on Thursday, July 27th. The company reported $0.64 earnings per share (EPS) 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 company had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the firm posted $0.66 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, equities research analysts expect that Leggett & Platt, will post $2.60 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 3.20%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is presently 57.14%.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $49.58, for a total value of $971,222.62. Following the sale, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.78% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Van ECK Associates Corp raised 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 during the period. TrimTabs Asset Management LLC raised 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 during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of Leggett & Platt, during the first quarter valued at about $126,000. Northwestern Mutual Wealth Management Co. raised its stake in shares of Leggett & Platt, by 6.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,407 shares of the company’s stock valued at $127,000 after buying an additional 153 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. raised 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 during the period. 69.01% of the stock is currently owned by hedge funds and other institutional investors.

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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