Leggett & Platt (NYSE:LEG – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.
Several other analysts have also issued reports on the stock. Truist Financial upped their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Piper Sandler decreased their price target on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group dropped their price objective on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. According to MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average price target of $12.67.
Read Our Latest Stock Report on LEG
Leggett & Platt Stock Down 3.2 %
Insider Buying and Selling at Leggett & Platt
In other Leggett & Platt news, CFO Benjamin Michael Burns bought 3,850 shares of the firm’s stock in a transaction that occurred on Thursday, June 6th. The stock was bought at an average price of $12.20 per share, for a total transaction of $46,970.00. Following the completion of the acquisition, the chief financial officer now directly owns 81,362 shares in the company, valued at $992,616.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Benjamin Michael Burns bought 3,850 shares of the business’s stock in a transaction dated Thursday, June 6th. The shares were purchased at an average price of $12.20 per share, with a total value of $46,970.00. Following the purchase, the chief financial officer now owns 81,362 shares of the company’s stock, valued at approximately $992,616.40. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Srikanth Padmanabhan acquired 10,000 shares of the stock in a transaction on Wednesday, June 5th. The stock was bought at an average price of $12.06 per share, with a total value of $120,600.00. Following the completion of the acquisition, the director now directly owns 38,623 shares of the company’s stock, valued at $465,793.38. The disclosure for this purchase can be found here. Insiders acquired 55,635 shares of company stock valued at $639,547 in the last 90 days. Insiders own 1.57% of the company’s stock.
Institutional Investors Weigh In On Leggett & Platt
Hedge funds have recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in Leggett & Platt in the second quarter worth about $36,000. Abich Financial Wealth Management LLC grew its stake in shares of Leggett & Platt by 93.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after buying an additional 931 shares during the last quarter. Fifth Third Bancorp increased its position in Leggett & Platt by 367.8% during the 2nd quarter. Fifth Third Bancorp now owns 3,396 shares of the company’s stock valued at $39,000 after buying an additional 2,670 shares in the last quarter. GAMMA Investing LLC purchased a new position in Leggett & Platt during the fourth quarter valued at $40,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Leggett & Platt by 343.8% in the second quarter. EverSource Wealth Advisors LLC now owns 4,371 shares of the company’s stock worth $50,000 after acquiring an additional 3,386 shares in the last quarter. 64.23% of the stock is currently owned by institutional investors.
Leggett & Platt Company Profile
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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