There’s an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 2, Leggett & Platt, Inc.’s EVP-Chief Strategic Plan. Off., Ryan Michael Kleiboeker, invested $133,900.00 into 10,000 shares of LEG, for a cost per share of $13.39. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.

In trading on Tuesday, bargain hunters could buy shares of Leggett & Platt, Inc. (Symbol: LEG) and achieve a cost basis even cheaper than Kleiboeker, with shares changing hands as low as $13.28 per share. Leggett & Platt, Inc. shares are currently trading off about 1.8% on the day. The chart below shows the one year performance of LEG shares, versus its 200 day moving average:

Looking at the chart above, LEG’s low point in its 52 week range is $11.0233 per share, with $33.06 as the 52 week high point — that compares with a last trade of $13.39. By comparison, below is a table showing the prices at which LEG insider buying was recorded over the last six months:

The current annualized dividend paid by Leggett & Platt, Inc. is $0.2/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/14/2024. Below is a long-term dividend history chart for LEG, which can be of good help in judging whether the most recent dividend with approx. 1.5% annualized yield is likely to continue.

Click here to find out which 9 other dividend bargains you can buy cheaper than insiders »

Also see:

• Institutional Holders of TOUS
• BBT Options Chain
• Institutional Holders of GRX

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.