Leggett & Platt, Incorporated (LEG) Earns Hold Rating from Stifel Nicolaus
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.
WARNING: This piece was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this piece on another site, it was copied illegally and republished in violation of US and international trademark & copyright laws. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/09/10/leggett-platt-incorporated-leg-earns-hold-rating-from-stifel-nicolaus.html.
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.
Receive News & Stock Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related stocks with our FREE daily email newsletter.