Leggett & Platt, Inc. (NYSE:LEG) SVP Russell J. Iorio sold 6,962 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $53.09, for a total transaction of $369,612.58. Following the transaction, the senior vice president now directly owns 61,446 shares of the company’s stock, valued at approximately $3,262,168.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
LEG stock traded down $0.15 during trading on Monday, hitting $52.17. The company had a trading volume of 79,671 shares, compared to its average volume of 1,177,102. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of 21.05 and a beta of 1.10. The business has a 50 day moving average of $49.23 and a 200 day moving average of $41.28. Leggett & Platt, Inc. has a fifty-two week low of $33.48 and a fifty-two week high of $55.42. The company has a current ratio of 1.74, a quick ratio of 1.05 and a debt-to-equity ratio of 1.84.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.76 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.09. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.21 billion. Leggett & Platt had a net margin of 6.45% and a return on equity of 28.04%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.66 earnings per share. As a group, equities analysts predict that Leggett & Platt, Inc. will post 2.56 EPS for the current year.
LEG has been the subject of several analyst reports. SunTrust Banks downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a report on Wednesday, October 30th. Stifel Nicolaus downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating and boosted their price target for the company from $52.00 to $55.00 in a report on Tuesday, November 19th. ValuEngine raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. Finally, TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, September 27th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $55.00.
A number of hedge funds have recently bought and sold shares of LEG. Northern Trust Corp grew its holdings in shares of Leggett & Platt by 0.3% during the second quarter. Northern Trust Corp now owns 1,493,556 shares of the company’s stock worth $57,308,000 after purchasing an additional 4,815 shares during the last quarter. Mackay Shields LLC boosted its holdings in shares of Leggett & Platt by 4.6% during the 3rd quarter. Mackay Shields LLC now owns 20,937 shares of the company’s stock valued at $857,000 after purchasing an additional 922 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Leggett & Platt by 10.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 45,207 shares of the company’s stock valued at $1,851,000 after buying an additional 4,454 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Leggett & Platt during the 2nd quarter valued at about $457,000. Finally, Meag Munich Ergo Kapitalanlagegesellschaft MBH raised its position in shares of Leggett & Platt by 94.9% during the 3rd quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 8,047 shares of the company’s stock valued at $328,000 after buying an additional 3,919 shares in the last quarter. 77.65% of the stock is owned by institutional investors and hedge funds.
About Leggett & Platt
Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.
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