Leggett & Platt, Incorporated (NYSE:LEG) has been assigned a consensus recommendation of “Hold” from the eleven research firms that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have given a buy rating and two have given a strong buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $55.14.

LEG has been the subject of several research analyst reports. Zacks Investment Research downgraded Leggett & Platt, from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Stifel Nicolaus reissued a “hold” rating on shares of Leggett & Platt, in a research note on Thursday, September 7th. BidaskClub downgraded Leggett & Platt, from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. Piper Jaffray Companies reissued a “buy” rating and issued a $59.00 price objective on shares of Leggett & Platt, in a research note on Friday, July 14th. Finally, SunTrust Banks, Inc. raised Leggett & Platt, from a “hold” rating to a “buy” rating and increased their price objective for the company from $50.00 to $53.00 in a research note on Friday, September 22nd. They noted that the move was a valuation call.

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In other Leggett & Platt, news, insider Matthew C. Flanigan sold 19,589 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $49.58, for a total value of $971,222.62. Following the completion of the sale, the insider now directly owns 159,522 shares in the company, valued at approximately $7,909,100.76. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.78% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Leggett & Platt, by 0.6% during the 2nd quarter. BlackRock Inc. now owns 12,019,449 shares of the company’s stock worth $631,381,000 after purchasing an additional 76,484 shares during the period. US Bancorp DE grew its holdings in shares of Leggett & Platt, by 2.3% during the 2nd quarter. US Bancorp DE now owns 2,038,293 shares of the company’s stock worth $107,072,000 after purchasing an additional 46,071 shares during the period. Franklin Resources Inc. grew its holdings in shares of Leggett & Platt, by 0.9% during the 2nd quarter. Franklin Resources Inc. now owns 1,584,782 shares of the company’s stock worth $83,249,000 after purchasing an additional 13,837 shares during the period. KAMES CAPITAL plc grew its holdings in shares of Leggett & Platt, by 2.2% during the 2nd quarter. KAMES CAPITAL plc now owns 1,194,230 shares of the company’s stock worth $62,733,000 after purchasing an additional 25,526 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Leggett & Platt, by 6.7% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 820,051 shares of the company’s stock worth $43,078,000 after purchasing an additional 51,765 shares during the period. Institutional investors own 68.85% of the company’s stock.

Leggett & Platt, (NYSE LEG) traded up 1.01% during midday trading on Friday, hitting $48.92. 580,649 shares of the stock traded hands. Leggett & Platt, has a 12 month low of $43.17 and a 12 month high of $54.97. The company’s 50 day moving average price is $47.04 and its 200 day moving average price is $50.04. The firm has a market cap of $6.47 billion, a PE ratio of 19.41 and a beta of 0.99.

Leggett & Platt, (NYSE:LEG) last announced its earnings results 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). The business had revenue of $989.30 million for the quarter, compared to analyst estimates of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.66 earnings per share. Equities research analysts predict that Leggett & Platt, will post $2.43 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Shareholders of record on Friday, September 15th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 2.94%. The ex-dividend date of this dividend was Thursday, September 14th. Leggett & Platt,’s payout ratio is currently 57.14%.

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.

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

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