Leggett & Platt, Inc. (NYSE:LEG) CEO Sells $450,074.79 in Stock

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Leggett & Platt, Inc. (NYSE:LEG) CEO Karl G. Glassman sold 10,683 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $42.13, for a total value of $450,074.79. Following the completion of the transaction, the chief executive officer now directly owns 460,505 shares of the company’s stock, valued at approximately $19,401,075.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of NYSE:LEG opened at $41.28 on Friday. Leggett & Platt, Inc. has a fifty-two week low of $33.48 and a fifty-two week high of $46.50. The business has a 50-day simple moving average of $38.87 and a two-hundred day simple moving average of $39.82. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.16 and a current ratio of 1.89. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.08.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Monday, July 29th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.01. Leggett & Platt had a net margin of 6.44% and a return on equity of 27.47%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the firm earned $0.63 EPS. As a group, research analysts predict that Leggett & Platt, Inc. will post 2.45 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 3.88%. The ex-dividend date is Thursday, September 12th. Leggett & Platt’s payout ratio is currently 64.52%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LEG. Dimensional Fund Advisors LP boosted its stake in Leggett & Platt by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,189,463 shares of the company’s stock worth $42,631,000 after purchasing an additional 26,326 shares during the period. Geode Capital Management LLC raised its position in Leggett & Platt by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 2,109,433 shares of the company’s stock valued at $75,497,000 after acquiring an additional 141,394 shares in the last quarter. Janus Henderson Group PLC raised its position in Leggett & Platt by 113.6% in the first quarter. Janus Henderson Group PLC now owns 76,200 shares of the company’s stock valued at $3,217,000 after purchasing an additional 40,533 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Leggett & Platt by 46.2% in the first quarter. Robeco Institutional Asset Management B.V. now owns 22,712 shares of the company’s stock valued at $959,000 after purchasing an additional 7,174 shares during the period. Finally, Nissay Asset Management Corp Japan ADV raised its position in Leggett & Platt by 4.1% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 13,023 shares of the company’s stock valued at $550,000 after purchasing an additional 512 shares during the period. 78.00% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have weighed in on LEG. ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Tuesday, September 10th. TheStreet lowered Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, May 31st. Finally, Raymond James lowered Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $42.00.

About Leggett & Platt

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

See Also: Net Margin

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