Last $37.91 USD
Change Today +0.88 / 2.38%
Volume 1.2M
LEG On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 10/24/14 All times are local (Market data is delayed by at least 15 minutes).

leggett & platt inc (LEG) Snapshot

Open
$37.16
Previous Close
$37.03
Day High
$37.96
Day Low
$37.00
52 Week High
10/24/14 - $37.96
52 Week Low
12/11/13 - $28.79
Market Cap
5.2B
Average Volume 10 Days
1.4M
EPS TTM
$1.66
Shares Outstanding
137.3M
EX-Date
09/11/14
P/E TM
22.9x
Dividend
$1.24
Dividend Yield
3.19%
Current Stock Chart for LEGGETT & PLATT INC (LEG)

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leggett & platt inc (LEG) Details

Leggett & Platt, Incorporated designs and produces a range of engineered components and products worldwide. The company’s Residential Furnishings segment offers innersprings and wire forms; steel mechanisms and hardware, springs, seat suspensions, steel tubular seat frames, bed frames, ornamental beds, and adjustable beds, as well as top-of-bed accessories; and structural fabrics, carpet underlay materials, and geo components. This segment primarily serves manufacturers of finished bedding products and upholstered furniture. Its Commercial Fixturing & Components segment provides shelving, counters, showcases, and garment racks; standardized shelving; and bases, columns, back rests, casters, and frames for office chairs and control devices, as well as offers finished furniture. This segment serves retail chains and specialty shops; and office, institutional, and commercial furniture manufacturers. The company’s Industrial Materials segment provides steel rods, drawn wires, steel billets, fabricated wire products, welded steel tubing, fabricated tube components, and titanium and nickel tubing products. This segment serves bedding and furniture, and mechanical spring makers; automotive seating manufacturers; aerospace suppliers and OEMs; and waste recyclers and waste removal businesses. Its Specialized Products segment offers manual and power lumbar support and massage systems; seat suspension systems; automotive control cables; low voltage motors and motion assemblies; formed metal and wire components; quilting machines; machines for shaping wire into springs; industrial sewing/finishing machines; and van interiors. This segment primarily serves automobile seating and bedding manufacturers; and telecommunication, cable, home service, and delivery companies. The company sells its products through sales representatives and distributors. Leggett & Platt, Incorporated was founded in 1883 and is based in Carthage, Missouri.

18,800 Employees
Last Reported Date: 02/26/14
Founded in 1883

leggett & platt inc (LEG) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $1.0M
President, Chief Operating Officer and Manage...
Total Annual Compensation: $775.8K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $467.2K
Senior Vice President and President of Indust...
Total Annual Compensation: $335.9K
Senior Vice President and President of Specia...
Total Annual Compensation: $329.7K
Compensation as of Fiscal Year 2013.

leggett & platt inc (LEG) Key Developments

Leggett & Platt, Incorporated Announces Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Revises Earnings Guidance for the Year 2014; Provides Earnings Guidance for the Fourth Quarter of 2014

Leggett & Platt, Incorporated announced earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, net sales (from continuing operations) were $997.4 million against $877.6 million a year ago. Earnings before interest and taxes were $75.4 million against $99.4 million a year ago. Earnings before income taxes were $66.5 million against $90.5 million a year ago. Net earnings from continuing operations were $53.4 million against $66.5 million a year ago. Net earnings attributable to the company were $48.2 million against $71.3 million a year ago. Earnings per diluted share from continuing operations were $0.37 against $0.45 a year ago. Net earnings per diluted share were $0.34 against $0.49 a year ago. Net cash from operating activity was $132.3 million against $115.6 million a year ago. Additions to PP&E were $24.6 million against $18.1 million a year ago. Adjusted EPS from continuing operations was $0.51 against $0.39 a year ago. The increase in adjusted earnings per share is primarily due to sales growth, a lower adjusted tax rate and reduced share count. Adjusted EBIT increased and adjusted EBIT margin improved to 10.7%, reflecting the strong sales growth. For the nine months, net sales (from continuing operations) were $2,829.0 million against $2,618.0 million a year ago. Earnings before interest and taxes were $263.4 million against $269.4 million a year ago. Earnings before income taxes were $236.5 million against $241.3 million a year ago. Net earnings from continuing operations were $179.0 million against $175.8 million a year ago. Net earnings attributable to the company were $77.4 million against $191.7 million a year ago. Earnings per diluted share from continuing operations were $1.23 against $1.18 a year ago. Net earnings per diluted share were $0.54 against $1.30 a year ago. Net cash from operating activity was $215.7 million against $238.8 million a year ago. Additions to PP&E were $63.0 million against $60.0 million a year ago. Net debt was $757.9 million against $659.7 million a year ago. Adjusted EPS from continuing operations was $1.37 against $1.12 a year ago. For the year 2014, for continuing operations, sales guidance is unchanged at $3.70-3.80 billion. This represents a 6-9% increase versus $3.48 billion from continuing operations in 2013, and reflects growth in excess of the company's 4-5% target. The company is increasing the low end of its EPS guidance range by $0.05. Guidance for 2014 adjusted EPS (including discontinued operations) is now $1.75-1.85; prior guidance, issued in April and reaffirmed in July, was $1.70-$1.85. Including the $0.65 goodwill impairment and $0.17 foam litigation settlement, the company now projects 2014 EPS of $0.93-1.03. Cash from operations in 2014 should again exceed $350 million. Capital expenditures are expected to be about $100 million, and dividend payments should approximate $170 million. Based upon current annual forecast and normal seasonality, the company expects to again generate operating cash of over $350 million. The company expects fourth quarter earnings per share of $0.39 to $0.49 versus an adjusted $0.35 last year.

Leggett & Platt Mulls Acquisitions

Leggett & Platt, Incorporated (NYSE:LEG) is seeking acquisitions. As has been Leggett & Platt's practice, after funding dividends and capital expenditures, any remaining cash flow will likely be targeted toward acquisitions or stock repurchases.

Leggett & Platt, Incorporated Announces Board Changes

On September 19, 2014, William S. Weil, Leggett & Platt, Incorporated's Vice President, Corporate Controller and Chief Accounting Officer informed the company of his decision to retire effective upon the 2015 annual shareholders meeting, which is currently expected to take place May 5, 2015. As part of the company's succession planning, on September 19, 2014, Tammy M. Trent, currently the company's Staff Vice President - SEC and Financial Reporting was appointed as Mr. Weil's successor, and is expected to assume Mr. Weil's duties and to be promoted to Vice President and Chief Accounting Officer, effective upon his retirement. Since joining the company in 1998, Ms. Trent, age 48, has served in a series of progressively more responsible accounting capacities and has served as Staff Vice President - SEC and Financial Reporting since 2007.

 

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Industry Analysis

LEG

Industry Average

Valuation LEG Industry Range
Price/Earnings 28.3x
Price/Sales 1.3x
Price/Book 4.2x
Price/Cash Flow 48.4x
TEV/Sales 1.0x
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