Somewhat Favorable Press Coverage Somewhat Unlikely to Impact Leggett & Platt (LEG) Share Price
Headlines about Leggett & Platt (NYSE:LEG) have been trending somewhat positive on Saturday, Accern Sentiment Analysis reports. Accern identifies positive and negative media coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Leggett & Platt earned a coverage optimism score of 0.09 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.3077582073059 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near future.
These are some of the headlines that may have impacted Accern Sentiment’s scoring:
- Global Systems Group promotes Paul Block, Terry Myers (bedtimesmagazine.com)
- Leggett & Platt, Inc. (LEG) Shares Sold by Wells Fargo & Company MN (americanbankingnews.com)
- Lazard Asset Management LLC Has $17.20 Million Stake in Leggett & Platt, Inc. (LEG) (americanbankingnews.com)
- Leggett & Platt (LEG) Soars: Stock Adds 5.1% in Session (finance.yahoo.com)
- Bowen Hanes & Co. Inc. Has $3.65 Million Holdings in Leggett & Platt, Inc. (LEG) (americanbankingnews.com)
Several brokerages have recently commented on LEG. Gabelli upgraded Leggett & Platt from a “hold” rating to a “buy” rating in a research note on Wednesday, February 7th. Piper Jaffray Companies restated a “hold” rating and set a $48.00 price target on shares of Leggett & Platt in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research upgraded Leggett & Platt from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Wednesday, January 10th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $54.57.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, February 5th. The company reported $0.59 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.02). The firm had revenue of $984.00 million for the quarter, compared to analysts’ expectations of $998.32 million. Leggett & Platt had a net margin of 7.42% and a return on equity of 29.44%. The business’s quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.53 EPS. research analysts forecast that Leggett & Platt will post 2.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.44 annualized dividend and a dividend yield of 3.10%. Leggett & Platt’s dividend payout ratio is currently 67.61%.
In other Leggett & Platt news, SVP Scott S. Douglas sold 10,000 shares of Leggett & Platt stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $47.01, for a total value of $470,100.00. Following the transaction, the senior vice president now owns 29,584 shares in the company, valued at $1,390,743.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew C. Flanigan sold 10,061 shares of Leggett & Platt stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $45.78, for a total value of $460,592.58. Following the completion of the transaction, the chief financial officer now owns 102,615 shares in the company, valued at approximately $4,697,714.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,182 shares of company stock worth $1,660,188. Insiders own 1.78% of the company’s stock.
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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.
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