Yahoo Finance Director Srikanth Padmanabhan Acquires 10,000 Shares of Leggett & Platt Inc (LEG)
On June 5, 2024, Srikanth Padmanabhan, a Director at Leggett & Platt Inc (NYSE:LEG), purchased 10,000 shares of the company, as reported in a recent SEC Filing. Following this transaction, the insider now owns 38,623 shares of the company.
Leggett & Platt Inc, a diversified manufacturer that conceives, designs, and produces a broad variety of engineered components and products found in homes, offices, retail stores, and automobiles, has seen a notable insider buying trend. Over the past year, there have been six insider buys and zero insider sells.
Shares of Leggett & Platt Inc were trading at $12.06 on the day of the transaction. The company has a market cap of $1.648 billion. According to the GF Value, the intrinsic value of the stock is estimated at $30.38, indicating a price-to-GF-Value ratio of 0.4. This suggests that the stock might be a Possible Value Trap, and potential investors should think twice.
The GF Value is calculated based on historical multiples such as price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, adjusted by a GuruFocus factor based on past returns and growth, and future business performance estimates from analysts.
This insider transaction adds to the overall buying sentiment observed within the company over the past year, aligning with the broader insider trading pattern at Leggett & Platt Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
