Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a consensus recommendation of “Hold” from the ten analysts that are presently covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation, two have issued a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $56.43.

LEG has been the topic of several recent analyst reports. Zacks Investment Research cut Leggett & Platt, from a “buy” rating to a “hold” rating in a report on Tuesday, April 11th. Piper Jaffray Companies started coverage on Leggett & Platt, in a research note on Monday, June 5th. They issued an “overweight” rating and a $59.00 target price on the stock. Credit Suisse Group started coverage on Leggett & Platt, in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $56.00 target price on the stock. Hilliard Lyons upgraded Leggett & Platt, from a “neutral” rating to a “long-term buy” rating and set a $66.00 target price on the stock in a research note on Monday, July 24th. Finally, Gabelli started coverage on Leggett & Platt, in a research note on Wednesday, June 21st. They issued a “hold” rating and a $53.00 target price on the stock.

TRADEMARK VIOLATION NOTICE: This article was published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally copied and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://www.americanbankingnews.com/2017/08/08/leggett-platt-incorporated-nyseleg-given-average-recommendation-of-hold-by-brokerages.html.

Shares of Leggett & Platt, (LEG) traded down 0.3013% during trading on Tuesday, hitting $48.0847. The stock had a trading volume of 502,151 shares. Leggett & Platt, has a 1-year low of $44.02 and a 1-year high of $54.97. The firm has a 50 day moving average of $52.34 and a 200 day moving average of $50.92. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 19.0812 and a beta of 0.98.

Leggett & Platt, (NYSE:LEG) last released its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. Leggett & Platt, had a net margin of 9.17% and a return on equity of 31.02%. The business had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the firm earned $0.66 EPS. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. Analysts expect that Leggett & Platt, will post $2.60 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 2.99%. The ex-dividend date is Thursday, September 14th. Leggett & Platt,’s dividend payout ratio (DPR) is 57.14%.

In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the transaction, the insider now owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.78% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of LEG. Vanguard Group Inc. raised its position in Leggett & Platt, by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,434,519 shares of the company’s stock valued at $776,664,000 after buying an additional 481,689 shares during the period. BlackRock Inc. raised its position in Leggett & Platt, by 1,572.6% in the first quarter. BlackRock Inc. now owns 11,942,965 shares of the company’s stock valued at $600,969,000 after buying an additional 11,228,920 shares during the period. Thomaspartners Inc. raised its position in Leggett & Platt, by 8.7% in the first quarter. Thomaspartners Inc. now owns 3,821,679 shares of the company’s stock valued at $192,307,000 after buying an additional 305,900 shares during the period. US Bancorp DE raised its position in Leggett & Platt, by 2.3% in the second quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock valued at $107,072,000 after buying an additional 46,071 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Leggett & Platt, by 2.6% in the first quarter. Bank of New York Mellon Corp now owns 1,478,104 shares of the company’s stock valued at $74,379,000 after buying an additional 36,833 shares during the period. 72.10% of the stock is currently owned by hedge funds and other institutional investors.

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.

Analyst Recommendations for Leggett & Platt, (NYSE:LEG)

Receive News & Ratings for Leggett & Platt Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Leggett & Platt Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.