Robert Ted Enloe III Sells 6,849 Shares of Leggett & Platt, Inc. (NYSE:LEG) Stock

Leggett & Platt, Inc. (NYSE:LEG) Director Robert Ted Enloe III sold 6,849 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $52.58, for a total transaction of $360,120.42. Following the completion of the sale, the director now owns 39,166 shares in the company, valued at $2,059,348.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

NYSE LEG opened at $52.21 on Tuesday. The business has a 50 day simple moving average of $49.95 and a 200 day simple moving average of $41.50. Leggett & Platt, Inc. has a 52-week low of $33.48 and a 52-week high of $55.42. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.05 and a current ratio of 1.74. The stock has a market cap of $6.89 billion, a price-to-earnings ratio of 21.05 and a beta of 1.10.

Leggett & Platt (NYSE:LEG) last posted its earnings results on Monday, October 28th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.09. Leggett & Platt had a return on equity of 28.04% and a net margin of 6.45%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the business earned $0.66 EPS. Leggett & Platt’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, analysts predict that Leggett & Platt, Inc. will post 2.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $1.60 dividend on an annualized basis and a yield of 3.06%. Leggett & Platt’s payout ratio is 64.52%.

A number of research firms recently issued reports on LEG. ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Stifel Nicolaus cut Leggett & Platt from a “buy” rating to a “hold” rating and increased their target price for the stock from $52.00 to $55.00 in a research note on Tuesday, November 19th. SunTrust Banks cut Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $55.00.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its stake in shares of Leggett & Platt by 1,963.9% during the 3rd quarter. Millennium Management LLC now owns 328,859 shares of the company’s stock worth $13,463,000 after acquiring an additional 312,925 shares in the last quarter. Man Group plc bought a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $293,000. Squarepoint Ops LLC grew its stake in shares of Leggett & Platt by 392.6% during the 3rd quarter. Squarepoint Ops LLC now owns 68,123 shares of the company’s stock worth $2,789,000 after acquiring an additional 54,293 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of Leggett & Platt by 0.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 43,397 shares of the company’s stock worth $1,777,000 after acquiring an additional 312 shares in the last quarter. Finally, Penserra Capital Management LLC grew its stake in shares of Leggett & Platt by 25.0% during the 3rd quarter. Penserra Capital Management LLC now owns 1,280 shares of the company’s stock worth $52,000 after acquiring an additional 256 shares in the last quarter. 77.65% of the stock is owned by institutional investors and hedge funds.

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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