Insider Buying: Leggett & Platt, Incorporated (NYSE:LEG) EVP Purchases 10,000 Shares of Stock (2024)

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) EVP Ryan Michael Kleiboeker bought 10,000 shares of the company's stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $10.95 per share, for a total transaction of $109,500.00. Following the completion of the acquisition, the executive vice president now directly owns 52,110 shares in the company, valued at approximately $570,604.50. The purchase was disclosed in a filing with the SEC, which is accessible through this link.

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Ryan Michael Kleiboeker also recently made the following trade(s):

• On Thursday, May 2nd, Ryan Michael Kleiboeker acquired 10,000 shares of Leggett & Platt stock. The shares were bought at an average cost of $13.39 per share, with a total value of $133,900.00.

Leggett & Platt Trading Up 5.3 %

LEG opened at $11.61 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.57 and a debt-to-equity ratio of 1.37. Leggett & Platt, Incorporated has a twelve month low of $10.11 and a twelve month high of $32.86. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -10.00 and a beta of 1.19. The company has a 50-day simple moving average of $15.59 and a 200 day simple moving average of $20.53.

Leggett & Platt (NYSE:LEG - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.01). Leggett & Platt had a negative net margin of 3.44% and a positive return on equity of 11.31%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the business earned $0.39 earnings per share. The business's revenue was down 9.6% compared to the same quarter last year. Analysts predict that Leggett & Platt, Incorporated will post 1.13 EPS for the current fiscal year.

Leggett & Platt Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, June 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.72%. Leggett & Platt's dividend payout ratio (DPR) is currently -17.24%.

Institutional Trading of Leggett & Platt

Several large investors have recently bought and sold shares of the business. TFO Wealth Partners LLC raised its stake in Leggett & Platt by 10,833.3% during the fourth quarter. TFO Wealth Partners LLC now owns 656 shares of the company's stock worth $157,000 after acquiring an additional 650 shares in the last quarter. Ramirez Asset Management Inc. bought a new position in Leggett & Platt in the 3rd quarter valued at approximately $25,000. Fifth Third Bancorp boosted its position in Leggett & Platt by 253.3% in the fourth quarter. Fifth Third Bancorp now owns 1,007 shares of the company's stock valued at $26,000 after buying an additional 722 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Leggett & Platt in the fourth quarter valued at approximately $40,000. Finally, ORG Partners LLC bought a new stake in shares of Leggett & Platt during the fourth quarter worth $49,000. 64.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Truist Financial cut their price objective on shares of Leggett & Platt from $16.00 to $13.00 and set a "hold" rating on the stock in a research report on Friday, May 3rd. StockNews.com raised Leggett & Platt from a "sell" rating to a "hold" rating in a report on Tuesday, May 7th. Piper Sandler lowered their price objective on Leggett & Platt from $16.00 to $13.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 1st. The Goldman Sachs Group lowered their price target on shares of Leggett & Platt from $20.00 to $14.00 and set a "neutral" rating on the stock in a research report on Thursday, May 2nd. Finally, TheStreet downgraded shares of Leggett & Platt from a "c" rating to a "d+" rating in a report on Monday, March 11th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $13.33.

View Our Latest Report on Leggett & Platt

About Leggett & Platt

(Get Free Report)

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.

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