Traders Buy Large Volume of Leggett & Platt Call Options (LEG)
Leggett & Platt, Inc. (NYSE:LEG) saw some unusual options trading activity on Tuesday. Stock traders bought 2,087 call options on the company. This represents an increase of approximately 2,272% compared to the typical volume of 88 call options.
LEG has been the subject of a number of recent analyst reports. SunTrust Banks restated a “buy” rating and set a $53.00 price target on shares of Leggett & Platt in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies downgraded shares of Leggett & Platt from an “overweight” rating to a “neutral” rating and set a $46.00 price target for the company. in a report on Monday, October 30th. Finally, Gabelli upgraded shares of Leggett & Platt from a “hold” rating to a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $54.57.
Shares of Leggett & Platt (LEG) opened at $43.99 on Friday. The stock has a market cap of $5,800.00, a P/E ratio of 20.56, a PEG ratio of 1.71 and a beta of 0.92. The company has a current ratio of 1.84, a quick ratio of 1.11 and a debt-to-equity ratio of 0.92. Leggett & Platt has a 1-year low of $42.00 and a 1-year high of $54.97.
In other Leggett & Platt news, SVP Scott S. Douglas sold 10,000 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $47.01, for a total value of $470,100.00. Following the completion of the sale, the senior vice president now owns 29,584 shares in the company, valued at approximately $1,390,743.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Scott S. Douglas sold 3,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $46.45, for a total transaction of $139,350.00. Following the completion of the sale, the senior vice president now owns 35,289 shares of the company’s stock, valued at approximately $1,639,174.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,250 shares of company stock valued at $621,070. 1.78% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of LEG. Dupont Capital Management Corp acquired a new stake in Leggett & Platt in the 4th quarter valued at approximately $122,000. SeaCrest Wealth Management LLC acquired a new stake in Leggett & Platt in the 4th quarter valued at approximately $193,000. Profund Advisors LLC acquired a new stake in Leggett & Platt in the 2nd quarter valued at approximately $217,000. Engineers Gate Manager LP acquired a new stake in Leggett & Platt in the 3rd quarter valued at approximately $217,000. Finally, TRUE Private Wealth Advisors acquired a new stake in Leggett & Platt in the 4th quarter valued at approximately $217,000. Hedge funds and other institutional investors own 68.22% of the company’s stock.
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About Leggett & Platt
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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