Leggett & Platt Hits New 52-Week High at $35.23 (LEG)
Leggett & Platt (NYSE:LEG) shares reached a new 52-week high during trading on Tuesday , AmericanBankingNews.com reports. The company traded as high as $35.23 and last traded at $35.02, with a volume of 272,741 shares trading hands. The stock had previously closed at $35.09.
LEG has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Leggett & Platt in a research note on Thursday, August 7th. They now have a $35.00 price target on the stock. Analysts at Monness Crespi & Hardt raised their price target on shares of Leggett & Platt from $35.00 to $37.00 in a research note on Monday, July 7th. They now have a “buy” rating on the stock.
The stock has a 50-day moving average of $33.78 and a 200-day moving average of $33.07. The company has a market cap of $4.858 billion and a price-to-earnings ratio of 48.60.
Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.02. The company had revenue of $1.00 billion for the quarter, compared to the consensus estimate of $989.92 million. During the same quarter in the prior year, the company posted $0.44 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. Analysts expect that Leggett & Platt will post $1.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, September 11th. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.30.
In other Leggett & Platt news, SVP Scott S. Douglas sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $34.87, for a total value of $34,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Leggett & Platt, Incorporated is an international manufacturer that conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft.
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