Stifel Nicolaus reaffirmed their hold rating on shares of Leggett & Platt, Incorporated (NYSE:LEG) in a research report released on Thursday morning.

Other equities analysts have also issued research reports about the stock. Piper Jaffray Companies reissued a buy rating and issued a $59.00 price target on shares of Leggett & Platt, in a report on Friday, July 14th. BidaskClub raised shares of Leggett & Platt, from a hold rating to a buy rating in a report on Saturday, June 17th. Gabelli initiated coverage on shares of Leggett & Platt, in a report on Wednesday, June 21st. They issued a hold rating and a $53.00 price target for the company. Zacks Investment Research lowered shares of Leggett & Platt, from a buy rating to a hold rating in a report on Monday, May 15th. Finally, Hilliard Lyons raised shares of Leggett & Platt, from a neutral rating to a long-term buy rating and set a $66.00 price target for the company in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Leggett & Platt, currently has a consensus rating of Hold and a consensus price target of $55.63.

Leggett & Platt, (NYSE:LEG) traded up 4.14% during midday trading on Thursday, hitting $45.30. The stock had a trading volume of 1,521,099 shares. The company has a market cap of $5.99 billion, a P/E ratio of 17.98 and a beta of 1.00. The stock’s 50-day moving average is $47.56 and its 200-day moving average is $50.55. Leggett & Platt, has a one year low of $43.17 and a one year high of $54.97.

Leggett & Platt, (NYSE:LEG) last issued its earnings results on Thursday, July 27th. The company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by $0.01. The business had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business’s revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 EPS. Equities analysts predict that Leggett & Platt, will post $2.49 EPS for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.

In other 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 completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. 1.78% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Intl Fcstone Inc. acquired a new position in Leggett & Platt, in the 2nd quarter worth $1,350,000. Lord Abbett & CO. LLC acquired a new position in Leggett & Platt, in the 2nd quarter worth $22,404,000. Toronto Dominion Bank boosted its stake in Leggett & Platt, by 24.2% in the 2nd quarter. Toronto Dominion Bank now owns 44,837 shares of the company’s stock worth $2,354,000 after purchasing an additional 8,748 shares during the period. Archford Capital Strategies LLC boosted its stake in Leggett & Platt, by 180.5% in the 2nd quarter. Archford Capital Strategies LLC now owns 63,623 shares of the company’s stock worth $1,043,000 after purchasing an additional 40,944 shares during the period. Finally, Cetera Investment Advisers acquired a new position in Leggett & Platt, in the 2nd quarter worth $319,000. 68.98% of the stock is 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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