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Leggett & Platt officials sell thousands of shares

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An executive and a board member of Leggett & Platt Inc. (NYSE: LEG) recently sold thousands of company shares.

General Counsel Scott Douglas, who’s also a senior vice president, on Feb. 20 bought and sold 18,450 shares to make $407,369, according to a filing with the U.S. Securities and Exchange Commission. He utilized SEC code M, through which executives can execute their rights to buy shares at set rates and sell them at market prices, netting a profit on the difference.

Following the sale, he directly owned 32,737 shares, according to the filing.

Earlier in the month, board member Joseph McClanathan sold 10,143 shares for $444,544, according to a separate SEC filing. He owned 26,034 direct shares after the Feb. 14 sale. McClanathan is the retired former president and CEO of the household products division of Energizer Holdings Inc., according to Leggett & Platt’s website.

The Carthage-based manufacturer of engineered components and products for homes, offices and vehicles this month reported 2018 profits of $305.9 million, a 4.5 percent increase from $292.6 million in 2017.

LEG shares were trading at $45.70 as of 10:42 a.m., compared with a 52-week range of $33.48 to $47.44.

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