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LEG Shares Experience Decline in Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Leggett & Platt, Inc. shares valued at $24,812 were purchased by DAVIS JENNIFER JOY on Jun 04 ’24. At $12.50 per share, DAVIS JENNIFER JOY acquired 1,985 shares. The insider’s holdings grew to 42,148 shares worth approximately $0.51 million following the completion of this transaction.

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Also, GLASSMAN KARL G purchased 23,800 shares, netting a total of over 273,148 in proceeds. Following the buying of shares at $11.48 each, the insider now holds 1,151,891 shares.

Before that, KLEIBOEKER RYAN MICHAEL had added 10,000 shares to its account. In a trade valued at $109,499, the EVP-Chief Strategic Plan. Off. bought Leggett & Platt, Inc. shares for $10.95 each. Upon closing the transaction, the insider’s holdings increased to 10,000 shares, worth approximately $0.62 million.

As published in a research note from Goldman on April 11, 2023, Leggett & Platt, Inc. [LEG] has been rated down from a Buy to a Neutral and the price target has been revised to $34 from $39. Analysts at Piper Sandler downgraded the stock from ‘”a Neutral”‘ to ‘”an Underweight”‘ outlook in a report released in mid December. As of May 04, 2022, Raymond James has decreased its “an Outperform” rating to a “Mkt perform” for LEG. Earlier on February 10, 2021, Raymond James downgraded its rating. Their new recommendation was “an Outperform” for LEG stock which previously was a “a Strong buy”.

Analyzing LEG Stock Performance

During the last five days, there has been a surge of approximately 14.41%. Over the course of the year, Leggett & Platt, Inc. shares have dropped approximately -54.18%. Shares of the company reached a 52-week high of $26.84 on 01/02/24 and a 52-week low of $10.11 on 05/29/24. A 50-day SMA is recorded $15.20, while a 200-day SMA reached $21.72. Nevertheless, trading volume fell to 2.07 million shares from 4.18 million shares the previous day.

Support And Resistance Levels for Leggett & Platt, Inc. (LEG)

According to the 24-hour chart, there is a support level at 11.81, which, if violated, would cause prices to drop to 11.64. In the upper region, resistance lies at 12.23. The next price resistance is at 12.48. RSI (Relative Strength Index) is 40.61 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.69, which suggests the price will decrease in the coming days. Percent R is at 22.15%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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