Leggett & Platt, Inc. (NYSE:LEG) – Piper Jaffray Companies lowered their Q2 2019 EPS estimates for shares of Leggett & Platt in a note issued to investors on Tuesday, April 30th, according to Zacks Investment Research. Piper Jaffray Companies analyst P. Keith now expects that the company will post earnings of $0.61 per share for the quarter, down from their prior forecast of $0.62. Piper Jaffray Companies also issued estimates for Leggett & Platt’s Q3 2019 earnings at $0.67 EPS, Q4 2019 earnings at $0.64 EPS, FY2019 earnings at $2.41 EPS, Q1 2020 earnings at $0.48 EPS, Q2 2020 earnings at $0.66 EPS, Q3 2020 earnings at $0.72 EPS, Q4 2020 earnings at $0.70 EPS and FY2020 earnings at $2.55 EPS.
Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.03). The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.18 billion. Leggett & Platt had a return on equity of 28.02% and a net margin of 6.58%. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS.
LEG traded down $0.46 during midday trading on Thursday, hitting $37.53. 721,006 shares of the company traded hands, compared to its average volume of 1,104,956. The company has a debt-to-equity ratio of 2.02, a quick ratio of 1.13 and a current ratio of 1.91. The stock has a market capitalization of $4.95 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.68 and a beta of 1.04. Leggett & Platt has a 52 week low of $33.48 and a 52 week high of $46.71.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.26%. The ex-dividend date of this dividend is Thursday, June 13th. This is a boost from Leggett & Platt’s previous quarterly dividend of $0.38. Leggett & Platt’s dividend payout ratio is 61.29%.
In other news, SVP Scott S. Douglas sold 18,450 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $45.22, for a total value of $834,309.00. Following the transaction, the senior vice president now owns 51,187 shares in the company, valued at approximately $2,314,676.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Russell J. Iorio sold 16,042 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $45.73, for a total transaction of $733,600.66. Following the completion of the transaction, the senior vice president now owns 71,149 shares in the company, valued at approximately $3,253,643.77. The disclosure for this sale can be found here. 1.45% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Suntrust Banks Inc. increased its holdings in Leggett & Platt by 1.5% in the 4th quarter. Suntrust Banks Inc. now owns 15,980 shares of the company’s stock worth $573,000 after acquiring an additional 233 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Leggett & Platt by 1.4% in the 1st quarter. Northwestern Mutual Investment Management Company LLC now owns 19,918 shares of the company’s stock worth $841,000 after acquiring an additional 273 shares in the last quarter. Cidel Asset Management Inc. increased its holdings in Leggett & Platt by 2.2% in the 1st quarter. Cidel Asset Management Inc. now owns 12,938 shares of the company’s stock worth $546,000 after acquiring an additional 281 shares in the last quarter. HL Financial Services LLC increased its holdings in Leggett & Platt by 4.5% in the 4th quarter. HL Financial Services LLC now owns 6,737 shares of the company’s stock worth $241,000 after acquiring an additional 288 shares in the last quarter. Finally, Smith Moore & CO. increased its holdings in Leggett & Platt by 2.9% in the 1st quarter. Smith Moore & CO. now owns 10,927 shares of the company’s stock worth $461,000 after acquiring an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.
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.
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