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Last $49.44 USD
Change Today +0.76 / 1.56%
Volume 1.5M
LEG On Other Exchanges
Symbol
Exchange
Berlin
As of 8:04 PM 07/1/15 All times are local (Market data is delayed by at least 15 minutes).

leggett & platt inc (LEG) Snapshot

Open
$49.27
Previous Close
$48.68
Day High
$49.49
Day Low
$49.06
52 Week High
06/23/15 - $49.95
52 Week Low
07/21/14 - $32.53
Market Cap
6.8B
Average Volume 10 Days
1.0M
EPS TTM
$1.94
Shares Outstanding
137.8M
EX-Date
06/11/15
P/E TM
25.5x
Dividend
$1.24
Dividend Yield
2.51%
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 and seat suspensions, steel tubular seat frames, bed frames and ornamental beds, and adjustable beds; and structural fabrics, carpet underlay materials, and geo components. This segment serves manufacturers of finished bedding products and upholstered furniture; retailers and distributors of adjustable and ornamental beds, bed frames, and carpet underlay; and contractors, landscapers, road construction companies, and government agencies using geo components. Its Commercial Fixturing & Components segment provides bases, columns, back rests, casters, and frames for office chairs and control devices; and private label finished furniture. This segment serves office, and institutional and commercial furniture manufacturers. The company’s Industrial Materials segment offers steel rods, drawn wires, steel billets, fabricated wire products, welded steel tubing, fabricated tube components, and titanium and nickel tubing. This segment serves bedding and furniture and automotive seating manufacturers; aerospace suppliers and OEMs; mechanical spring makers; and waste recyclers and waste removal businesses. Its Specialized Products segment provides 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.

19,000 Employees
Last Reported Date: 05/6/15
Founded in 1883

leggett & platt inc (LEG) Top Compensated Officers

Chairman, Chief Executive Officer and Member ...
Total Annual Compensation: $1.1M
President, Chief Operating Officer and Direct...
Total Annual Compensation: $804.2K
Chief Financial Officer, Executive Vice Presi...
Total Annual Compensation: $486.5K
Senior Vice President and President of Reside...
Total Annual Compensation: $348.1K
Senior Vice President and President of Indust...
Total Annual Compensation: $345.2K
Compensation as of Fiscal Year 2014.

leggett & platt inc (LEG) Key Developments

Foam Makers to Pay $128.5 million to Settle More US Suits

Six polyurethane-foam makers have proposed paying up to $128.5 million to settle another batch of US lawsuits that accused them of fixing prices. The lead lawyer representing the customers that sued the foam companies did not immediately respond to a request for comment on June 23, 2015. The settlement agreements still need to be approved by the court. The dispute goes back to 2010, when customers accused the foam companies of fixing prices since at least 1 January 1999. The buyers alleged they had paid too much for foam. The latest settlement would cover the so-called indirect purchasers. These are customers who bought finished products made from the producers' foam. Under the proposed settlements, Carpenter would pay $63.5 million, and Hickory Springs Manufacturing would pay up to $10.25 million. Leggett & Platt would pay $26.5 million, while Mohawk would pay $16 million. Vitafoam would pay $2.75 million, and Woodbridge would pay $9.5 million. Earlier, the direct purchasers had reached a $275.5 million settlement with another group of foam makers. The direct purchasers bought the foam to make bed mattresses, furniture, carpet and other products that were ultimately sold to the indirect purchasers. Under the agreements, $16 million would be paid by FFP Holdings, formerly known as Flexible Foam Products. Future Foam agreed to pay $32 million, and FXI - Foam Innovations would pay $60 million. It is unclear if FFP Holdings, Future Foam or FXI - Foam Innovations are still involved in the indirect purchasers litigation. They may have reached settlements or obtained dismissals. None of the three companies immediately responded to requests for comment. Mohawk agreed to pay $98 million, while Woodbridge would pay $50 million. Hickory Springs agreed to pay $19.5 million. Other foam producers had reached settlements with the direct purchasers earlier in the litigation. Carpenter agreed to pay $108 million, while Leggett & Platt agreed to $39.8 million. Both companies denied that they fixed prices or did anything wrong. Vitafoam had agreed to pay up to $15 million. It also denied doing anything wrong. Polyurethane foams are made with polyols and isocyanates such as methyl di-p-phenylene isocyanate (MDI) and toluene di-isocyanate (TDI). The case is being litigated in US District Court, Northern Ohio District. The case number is 10-2196.

Leggett & Platt Announces Dividend for the Second Quarter of 2015, Payable on July 15, 2015

Leggett & Platt's Board of Directors announced a dividend of $0.31 per share for the second quarter of 2015, a 3.3% increase versus the dividend declared in the second quarter 2014. The dividend will be paid on July 15, 2015 to shareholders of record on June 15, 2015.

Leggett & Platt, Incorporated Reports Earnings Results for the First Quarter Ended March 31, 2015; Revises Earnings Guidance for the Year 2015

Leggett & Platt, Incorporated reported earnings results for the first quarter ended March 31, 2015. For the period, the company reported net sales from continuing operations of $966.2 million against $875.5 million for the same period in the last year. Earnings before interest and taxes were $82.5 million against $79.4 million for the same period in the last year. Earnings before income taxes were $111.7 million against $85.8 million for the same period in the last year. Net earnings from continuing operations were $73.3 million or $0.50 per diluted share against $56.0 million or $0.38 per diluted share for the same period in the last year. Net earnings attributable to the company were $71.7 million or $0.50 per diluted share against $53.1 million or $0.37 per diluted share for the same period in the last year. Net cash from operating activity was $32.1 million against net cash used in operating activity of $19.7 million for the same period in the last year. Additions to PP&E were $21.7 million against $15.1 million a year ago. Net debt as at March 31, 2015 was $738.0 million against $723.8 million as at March 31, 2014. The 2015 EPS improvement is largely the result of strong unit volume growth; this was partially offset by a $6 million pre-tax impairment charge in the Industrial Segment's Steel Tubing business unit. For 2015, the company continues to expect record revenues from continuing operations of $3.9 billion to $4.1 billion. The company also raised the low end of a previously issued EPS guidance, and now expects EPS of $1.95 to $2.10 compared to a previous range of $1.90 to $2.10 per share. The company expects cash from operations to exceed $350 million in 2015. The company expects capital expenditures to be roughly $120 million.

 

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Industry Analysis

LEG

Industry Average

Valuation LEG Industry Range
Price/Earnings 29.2x
Price/Sales 1.8x
Price/Book 6.1x
Price/Cash Flow 49.1x
TEV/Sales 1.4x
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