Leggett & Platt (NYSE:LEG) Shares Unloaded Sen. Gary C. Peters

Senator Gary C. Peters (D-Michigan) recently sold shares of Leggett & Platt, Incorporated (NYSE:LEG). In a filing disclosed on November 14th, the Senator disclosed that they had sold between $1,001 and $15,000 in Leggett & Platt stock on October 31st.

Senator Gary C. Peters also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Lamb Weston (NYSE:LW) on 10/31/2024.
• Sold $1,001 – $15,000 in shares of Invesco (NYSE:IVZ) on 10/17/2024.

Leggett & Platt Price Performance

LEG opened at $11.80 on Friday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -1.96 and a beta of 1.07. The stock has a fifty day moving average price of $12.71 and a 200 day moving average price of $12.41. The company has a current ratio of 1.48, a quick ratio of 0.84 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 1 year low of $10.11 and a 1 year high of $27.58.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Monday, October 28th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.10 billion. Leggett & Platt had a negative net margin of 18.53% and a positive return on equity of 14.99%. The business’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.36 earnings per share. Analysts forecast that Leggett & Platt, Incorporated will post 1.05 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its stake in shares of Leggett & Platt by 76.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,043 shares of the company’s stock worth $28,000 after purchasing an additional 884 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt in the 3rd quarter worth about $29,000. CVA Family Office LLC purchased a new stake in Leggett & Platt in the 2nd quarter valued at about $36,000. Abich Financial Wealth Management LLC grew its holdings in Leggett & Platt by 93.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 1,930 shares of the company’s stock worth $37,000 after acquiring an additional 931 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in shares of Leggett & Platt in the 3rd quarter worth $37,000. 64.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Truist Financial upped their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 5th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $11.00 to $13.00 in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Four analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.67.

About Senator Peters

Gary Peters (Democratic Party) is a member of the U.S. Senate from Michigan. He assumed office on January 3, 2015. His current term ends on January 3, 2027. Peters (Democratic Party) ran for re-election to the U.S. Senate to represent Michigan. He won in the general election on November 3, 2020. Peters completed Ballotpedia’s Candidate Connection survey in 2020. Click here to read the survey answers. Peters was elected to the Senate in 2014. On May 1, 2013, Peters announced he would seek election to the United States Senate seat that was being vacated in 2014 by retiring Michigan Sen. Carl Levin. Peters ran unopposed in the Democratic primary on August 5, 2014, before he defeated Terri Lynn Land (R), Jim Fulner (Libertarian), Richard Matkin (U.S. Taxpayers), and Chris Wahmhoff (Green) in the general election on November 4, 2014. Peters was previously a member of the U.S. House of Representatives representing Michigan’s 9th Congressional District from 2009 to 2013 and Michigan’s 14th Congressional District from 2013 to 2015. He also served as Commissioner of the Michigan Lottery from 2003 to 2007. As of a 2014 analysis of multiple outside rankings, Peters is an average Democratic member of Congress, meaning he will vote with the Democratic Party on the majority of bills. On January 28, 2021, Senate Majority Leader Chuck Schumer (D-N.Y.) appointed Peters to head the Democratic Senatorial Campaign Committee for the 2022 campaign cycle. Peters was born in 1958 in Pontiac, Michigan. After graduating from Alma College in 1980, Peters went on to receive his M.B.A. from the University of Detroit and his J.D. from Wayne State University in 1985 and 1989, respectively. Prior to his political career, Peters worked as a professor and investment banker. He also served in the United States Naval Reserve from 1993 to 2000 and from 2001 to 2005.

About Leggett & Platt

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.