Sen. Gary C. Peters Sells Off Leggett & Platt, Incorporated (NYSE:LEG) Shares

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 Stock Down 3.0 %

LEG opened at $11.80 on Friday. The firm’s fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $12.41. The company has a quick ratio of 0.84, a current ratio of 1.48 and a debt-to-equity ratio of 2.13. Leggett & Platt, Incorporated has a 52-week low of $10.11 and a 52-week high of $27.58.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of LEG. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Leggett & Platt in the third quarter valued at $29,000. Point72 Hong Kong Ltd purchased a new stake in shares of Leggett & Platt in the 3rd quarter valued at approximately $37,000. Verition Fund Management LLC lifted its holdings in shares of Leggett & Platt by 649.6% in the 3rd quarter. Verition Fund Management LLC now owns 97,675 shares of the company’s stock worth $1,330,000 after acquiring an additional 84,645 shares during the last quarter. Captrust Financial Advisors purchased a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $144,000. Finally, Capstone Investment Advisors LLC acquired a new stake in Leggett & Platt in the 3rd quarter valued at approximately $251,000. Institutional investors and hedge funds own 64.23% of the company’s stock.

Analyst Ratings Changes

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