Leggett & Platt (NYSE:LEG) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $2.60-$2.80 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.76. The company issued revenue guidance of $4.3-$4.4 billion, compared to the consensus revenue estimate of $4.25 billion.
Several brokerages have issued reports on LEG. Zacks Investment Research upgraded Leggett & Platt from a hold rating to a buy rating and set a $54.00 price objective for the company in a research report on Wednesday, January 10th. Piper Jaffray reiterated a hold rating and issued a $48.00 price objective on shares of Leggett & Platt in a research report on Tuesday, January 23rd. Finally, Gabelli upgraded Leggett & Platt from a hold rating to a buy rating in a research report on Wednesday, February 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $54.17.
LEG traded up $0.89 during trading on Thursday, hitting $42.72. The company’s stock had a trading volume of 1,851,760 shares, compared to its average volume of 1,437,310. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.22 and a current ratio of 1.81. Leggett & Platt has a 12 month low of $41.25 and a 12 month high of $54.97. The company has a market cap of $5,600.38, a price-to-earnings ratio of 17.37, a PEG ratio of 1.37 and a beta of 0.87.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Thursday, March 15th were given a $0.36 dividend. The ex-dividend date of this dividend was Wednesday, March 14th. This represents a $1.44 annualized dividend and a yield of 3.37%. Leggett & Platt’s payout ratio is 58.54%.
In other news, insider Karl G. Glassman sold 10,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $47.41, for a total transaction of $474,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Matthew C. Flanigan sold 10,061 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $45.78, for a total value of $460,592.58. Following the sale, the chief financial officer now owns 102,615 shares of the company’s stock, valued at approximately $4,697,714.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,932 shares of company stock valued at $2,122,668. 1.52% of the stock is currently owned by corporate insiders.
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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