Shares of Leggett & Platt, Incorporated (NYSE:LEG) have earned a consensus recommendation of “Buy” from the eight analysts that are currently covering the firm, MarketBeat reports. Five equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $55.00.

Several equities research analysts have commented on the stock. BidaskClub raised shares of Leggett & Platt, from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Jaffray Companies assumed coverage on shares of Leggett & Platt, in a research report on Monday, June 5th. They set an “overweight” rating and a $59.00 price target on the stock. Zacks Investment Research cut shares of Leggett & Platt, from a “buy” rating to a “hold” rating in a research report on Monday, May 15th. Finally, Stifel Nicolaus boosted their price target on shares of Leggett & Platt, from $48.00 to $52.00 and gave the stock a “hold” rating in a research report on Monday, April 3rd.

In other news, SVP Scott S. Douglas sold 5,000 shares of the company’s stock in a transaction dated Wednesday, May 3rd. The shares were sold at an average price of $53.26, for a total value of $266,300.00. Following the sale, the senior vice president now directly owns 36,133 shares of the company’s stock, valued at approximately $1,924,443.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph W. Mcclanathan sold 5,715 shares of the company’s stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $52.91, for a total transaction of $302,380.65. Following the completion of the sale, the director now directly owns 32,314 shares in the company, valued at $1,709,733.74. The disclosure for this sale can be found here. Insiders have sold a total of 46,320 shares of company stock worth $2,477,652 over the last three months. Insiders own 1.78% of the company’s stock.

Several large investors have recently modified their holdings of the stock. Van ECK Associates Corp boosted its stake in shares of Leggett & Platt, by 7.4% in the first quarter. Van ECK Associates Corp now owns 2,122 shares of the company’s stock worth $107,000 after buying an additional 147 shares during the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Leggett & Platt, by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 2,328 shares of the company’s stock worth $117,000 after buying an additional 1,096 shares during the last quarter. Pinnacle Bank purchased a new stake in shares of Leggett & Platt, during the first quarter worth about $122,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Leggett & Platt, during the first quarter worth about $126,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Leggett & Platt, by 123.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,686 shares of the company’s stock worth $135,000 after buying an additional 1,486 shares during the last quarter. 72.73% of the stock is currently owned by institutional investors.

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Leggett & Platt, (NYSE LEG) traded up 1.02% during trading on Monday, reaching $53.28. The company’s stock had a trading volume of 253,313 shares. The company has a market cap of $7.05 billion, a P/E ratio of 19.40 and a beta of 1.00. The company’s 50 day moving average price is $52.30 and its 200 day moving average price is $50.18. Leggett & Platt, has a 52 week low of $44.02 and a 52 week high of $54.97.

Leggett & Platt, (NYSE:LEG) last issued its quarterly earnings results on Thursday, April 27th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.59 by $0.03. Leggett & Platt, had a net margin of 10.14% and a return on equity of 31.91%. The firm had revenue of $960.30 million for the quarter, compared to analysts’ expectations of $958.98 million. During the same period in the previous year, the firm posted $0.63 EPS. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts anticipate that Leggett & Platt, will post $2.63 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This is a boost from Leggett & Platt,’s previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 2.73%. Leggett & Platt,’s payout ratio is 52.36%.

Leggett & Platt, Company Profile

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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