Insider Selling: Leggett & Platt, Inc. (NYSE:LEG) CEO Sells 10,683 Shares of Stock

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

LEG traded up $1.55 on Friday, hitting $40.88. 991,346 shares of the company were exchanged, compared to its average volume of 921,387. 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 business’s fifty day moving average is $39.49 and its 200 day moving average is $39.43. Leggett & Platt, Inc. has a fifty-two week low of $33.48 and a fifty-two week high of $46.50. The firm has a market capitalization of $5.09 billion, a P/E ratio of 16.48 and a beta of 1.10.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Monday, July 29th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.01. The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.28 billion. Leggett & Platt had a net margin of 6.44% and a return on equity of 27.47%. During the same period in the prior year, the business posted $0.63 earnings per share. Analysts forecast that Leggett & Platt, Inc. will post 2.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, September 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.91%. Leggett & Platt’s dividend payout ratio (DPR) is currently 64.52%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Penserra Capital Management LLC purchased a new position in Leggett & Platt during the first quarter worth approximately $26,000. Stonebridge Capital Advisors LLC purchased a new position in shares of Leggett & Platt in the 2nd quarter valued at $25,000. Thor Advisors LLC purchased a new position in shares of Leggett & Platt in the 1st quarter valued at $37,000. Advisory Services Network LLC raised its stake in shares of Leggett & Platt by 25.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,248 shares of the company’s stock valued at $48,000 after acquiring an additional 250 shares during the period. Finally, Flagship Harbor Advisors LLC raised its stake in shares of Leggett & Platt by 386.0% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,322 shares of the company’s stock valued at $50,000 after acquiring an additional 1,050 shares during the period. Hedge funds and other institutional investors own 78.00% of the company’s stock.

Several equities analysts have commented on the stock. Raymond James downgraded shares of Leggett & Platt from an “outperform” rating to a “market perform” rating in a research note on Wednesday, July 24th. ValuEngine downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Friday. Finally, TheStreet raised shares of Leggett & Platt from a “c+” rating to a “b-” rating in a report on Friday, September 27th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average 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.

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