Bank & Trust Co Makes New Investment in Leggett & Platt, Incorporated (NYSE:LEG)

Bank & Trust Co bought a new stake in Leggett & Platt, Incorporated (NYSE:LEG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,512 shares of the company’s stock, valued at approximately $63,000.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp boosted its stake 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 acquiring an additional 722 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Leggett & Platt during the 4th quarter worth approximately $336,000. Prime Capital Investment Advisors LLC purchased a new position in Leggett & Platt during the 4th quarter worth approximately $228,000. Venture Visionary Partners LLC increased its position in Leggett & Platt by 38.5% during the fourth quarter. Venture Visionary Partners LLC now owns 55,376 shares of the company’s stock worth $1,449,000 after buying an additional 15,389 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Leggett & Platt by 32.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,039 shares of the company’s stock valued at $498,000 after acquiring an additional 4,662 shares during the period. 64.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LEG has been the topic of a number of recent research reports. Truist Financial lifted their target price on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a report on Monday. StockNews.com downgraded shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Saturday, July 6th. The Goldman Sachs Group lowered their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Wednesday, July 10th. Finally, Piper Sandler dropped their target price on Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday, May 1st. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.67.

Leggett & Platt Stock Performance

Shares of Leggett & Platt stock traded up $0.05 on Tuesday, reaching $12.75. 2,605,291 shares of the stock were exchanged, compared to its average volume of 2,614,134. The firm has a market capitalization of $1.71 billion, a PE ratio of -10.99 and a beta of 1.08. Leggett & Platt, Incorporated has a 1-year low of $10.11 and a 1-year high of $30.40. The business has a fifty day moving average price of $11.95 and a two-hundred day moving average price of $16.08. The company has a current ratio of 1.57, a quick ratio of 0.89 and a debt-to-equity ratio of 1.37.

Insider Transactions at Leggett & Platt

In other Leggett & Platt news, Director Mark A. Blinn purchased 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were purchased at an average cost of $10.74 per share, for a total transaction of $64,440.00. Following the completion of the purchase, the director now directly owns 32,302 shares in the company, valued at $346,923.48. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mark A. Blinn purchased 6,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was acquired at an average price of $10.74 per share, for a total transaction of $64,440.00. Following the acquisition, the director now directly owns 32,302 shares of the company’s stock, valued at approximately $346,923.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Srikanth Padmanabhan acquired 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The shares were bought at an average cost of $12.06 per share, for a total transaction of $120,600.00. Following the acquisition, the director now owns 38,623 shares of the company’s stock, valued at approximately $465,793.38. The disclosure for this purchase can be found here. In the last three months, insiders acquired 55,635 shares of company stock valued at $639,547. Corporate insiders own 1.57% of the company’s stock.

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.