Traders Buy Large Volume of Leggett & Platt Call Options (LEG)
Leggett & Platt, Inc. (NYSE:LEG) was the target of some unusual options trading activity on Thursday. Traders acquired 606 call options on the stock. This is an increase of approximately 1,088% compared to the typical volume of 51 call options.
Leggett & Platt (LEG) opened at $46.78 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.11 and a debt-to-equity ratio of 0.89. The firm has a market cap of $6,062.28, a P/E ratio of 19.16, a P/E/G ratio of 1.92 and a beta of 1.03. Leggett & Platt has a 1 year low of $43.17 and a 1 year high of $54.97.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Thursday, October 26th. The company reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Leggett & Platt had a net margin of 8.75% and a return on equity of 29.60%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the company posted $0.67 EPS. analysts expect that Leggett & Platt will post 2.48 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Piper Jaffray Companies cut shares of Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a research note on Monday, October 30th. SunTrust Banks raised shares of Leggett & Platt from a “hold” rating to a “buy” rating and increased their price target for the company from $50.00 to $53.00 in a research note on Friday, September 22nd. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating on shares of Leggett & Platt in a research note on Thursday, September 7th. Finally, BidaskClub cut shares of Leggett & Platt from a “sell” rating to a “strong sell” rating in a research note on Friday, August 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $54.29.
In other news, SVP Scott S. Douglas sold 3,000 shares of the stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $46.45, for a total value of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 1.78% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Ronna Sue Cohen boosted its position in shares of Leggett & Platt by 12.7% during the 3rd quarter. Ronna Sue Cohen now owns 9,268 shares of the company’s stock worth $442,000 after purchasing an additional 1,048 shares during the period. State of Wisconsin Investment Board boosted its position in Leggett & Platt by 33.1% in the 2nd quarter. State of Wisconsin Investment Board now owns 121,673 shares of the company’s stock valued at $6,391,000 after buying an additional 30,250 shares during the period. Ameriprise Financial Inc. boosted its position in Leggett & Platt by 51.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 139,883 shares of the company’s stock valued at $7,350,000 after buying an additional 47,247 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its position in Leggett & Platt by 13.1% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 285,588 shares of the company’s stock valued at $15,002,000 after buying an additional 33,106 shares during the period. Finally, Victory Capital Management Inc. boosted its position in Leggett & Platt by 15.4% in the 2nd quarter. Victory Capital Management Inc. now owns 173,461 shares of the company’s stock valued at $9,112,000 after buying an additional 23,089 shares during the period. 68.67% of the stock is owned by hedge funds and other institutional investors.
About Leggett & Platt
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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