Leggett & Platt SVP David M. Desonier Sells 6,088 Shares (LEG)
Leggett & Platt (NYSE:LEG) SVP David M. Desonier sold 6,088 shares of Leggett & Platt stock on the open market in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $35.30, for a total transaction of $214,906.40. Following the transaction, the senior vice president now directly owns 56,744 shares of the company’s stock, valued at approximately $2,003,063. The sale was disclosed in a legal filing with the SEC, which is available at this link.
A number of research firms have recently commented on LEG. 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.
Leggett & Platt (NYSE:LEG) traded down 0.40% during mid-day trading on Wednesday, hitting $35.25. 605,231 shares of the company’s stock traded hands. Leggett & Platt has a 1-year low of $28.00 and a 1-year high of $35.39. The stock’s 50-day moving average is $33.83 and its 200-day moving average is $33.15. The company has a market cap of $4.838 billion and a P/E ratio of 49.02.
Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, July 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. On average, analysts predict that Leggett & Platt will post $1.78 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 15th. Stockholders 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 3.52%. The ex-dividend date is Thursday, September 11th. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.30.
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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