Insider Selling: Leggett & Platt, Incorporated (NYSE:LEG) Director Sells 2,500 Shares of Stock

Leggett & Platt, Incorporated (NYSE:LEGGet Rating) Director Phoebe A. Wood sold 2,500 shares of Leggett & Platt stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $38.35, for a total transaction of $95,875.00. Following the completion of the transaction, the director now directly owns 53,580 shares in the company, valued at $2,054,793. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Leggett & Platt stock traded up $0.29 during trading on Thursday, hitting $38.90. The company’s stock had a trading volume of 7,681 shares, compared to its average volume of 1,098,908. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.58 and a quick ratio of 0.81. Leggett & Platt, Incorporated has a 52 week low of $33.80 and a 52 week high of $55.80. The stock has a market cap of $5.20 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.29. The stock has a 50-day moving average price of $36.72 and a two-hundred day moving average price of $38.62.

Leggett & Platt (NYSE:LEGGet Rating) last released its earnings results on Monday, May 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.10. The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.27 billion. Leggett & Platt had a net margin of 7.73% and a return on equity of 23.88%. During the same quarter in the previous year, the business earned $0.64 earnings per share. On average, equities analysts predict that Leggett & Platt, Incorporated will post 2.76 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Wednesday, June 15th will be issued a $0.44 dividend. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.42. The ex-dividend date is Tuesday, June 14th. This represents a $1.76 annualized dividend and a yield of 4.52%. Leggett & Platt’s payout ratio is presently 56.76%.

A number of hedge funds have recently added to or reduced their stakes in the stock. Captrust Financial Advisors raised its holdings in shares of Leggett & Platt by 21.1% during the third quarter. Captrust Financial Advisors now owns 1,491 shares of the company’s stock valued at $67,000 after purchasing an additional 260 shares during the period. Fifth Third Bancorp raised its holdings in shares of Leggett & Platt by 22.9% in the 4th quarter. Fifth Third Bancorp now owns 1,430 shares of the company’s stock worth $59,000 after acquiring an additional 266 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Leggett & Platt by 0.8% in the 4th quarter. State of Michigan Retirement System now owns 33,800 shares of the company’s stock worth $1,391,000 after acquiring an additional 284 shares during the last quarter. Ellevest Inc. raised its holdings in shares of Leggett & Platt by 35.9% in the 1st quarter. Ellevest Inc. now owns 1,151 shares of the company’s stock worth $40,000 after acquiring an additional 304 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of Leggett & Platt by 18.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,915 shares of the company’s stock worth $66,000 after acquiring an additional 305 shares during the last quarter. Institutional investors and hedge funds own 72.99% of the company’s stock.

A number of research analysts recently issued reports on LEG shares. Piper Sandler decreased their price objective on shares of Leggett & Platt from $43.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, April 7th. Zacks Investment Research raised shares of Leggett & Platt from a “strong sell” rating to a “hold” rating and set a $39.00 target price on the stock in a research note on Friday, May 6th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. TheStreet cut shares of Leggett & Platt from a “b-” rating to a “c+” rating in a research note on Friday, March 11th. Finally, Raymond James cut shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $42.33.

About Leggett & Platt (Get Rating)

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for mattress foundations, adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to produce innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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