The Leggett & Platt, Incorporated was founded in Carthage, Missouri in 1883 and incorporated in 1901. The company is a pioneer in steel coil springs and an international diversified manufacturer that conceives, designs and produces a variety of engineered components and products used in many homes and automobiles. Their business is divided into 15 business divisions, divided into seven groups under three divisions: bedding; professional products; and furniture, flooring and textile products. 

Tenable stock surged 12% on Thursday after being added to the S&P SmallCap 600 index, replacing Leggett & Platt, which is being acquired by Somnigroup International. The company's inclusion in the index will increase its visibility and make it a target for index funds. However, the index effect on operations and fundamentals is minimal.

Leggett & Platt

Somnigroup

Tenable Holdings

Tenable Stock Soars 12% Following S&P SmallCap 600 Index Addition

Moody's Ratings upgrades Somnigroup's ratings, downgrades Leggett's ratings; concluding review; outlook stable

Moody'S

Moody's Ratings upgrades Somnigroup's ratings, downgrades Leggett's ratings; concluding review; outlook stable

Mercury General, Leggett & Platt, and Horace Mann Educators are top picks for investors today, with a Zacks Rank #1 and strong value characteristics. Mercury General has a P/E ratio of 8.19 and a Value Score of A, while Leggett & Platt has a P/E ratio of 8.90 and a Value Score of A. Horace Mann Educators has a P/E ratio of 10.69 and a Value Score of A.

Horace Mann Educators

Mercury General

Mercury General, Leggett & Platt, Horace Mann Earn Buy Ranks

Tenable Holdings will join the S&P SmallCap 600 index, replacing Leggett & Platt, on August 31. The change is due to Somnigroup International's acquisition of Leggett & Platt, pending final closing conditions. Tenable Holdings will be added to the index, while Leggett & Platt will be deleted. The S&P Dow Jones Indices division of S&P Global is responsible for the change.

Tenable to Join S&P SmallCap 600, Leggett & Platt to Exit

Somnigroup International has appointed Tyson Hagale as the new president of Leggett &amp; Platt, which operates as a business unit within Somnigroup following its acquisition in <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">an all-stock transaction valued</a> at approximately $2.5 billion. Hagale succeeds Karl Glassman, who will continue to lead Leggett &amp; Platt through a transition period and assist in <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">selection of a new CEO</a> for the business unit within twelve months of the transaction's closing. The acquisition, which was finalized by year-end 2026, allows Leggett &amp; Platt to maintain its headquarters in Carthage, Missouri, and continue its operations independently within Somnigroup, similar to <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">other units such as Tempur</a> Sealy, Mattress Firm, and Dreams. The strategic move aims to <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">enhance consumer-centric innovation and expand</a> Somnigroup’s addressable markets in bedding and beyond.Hagale’s appointment reflects Somnigroup’s commitment to leveraging Leggett &amp; Platt’s engineering capabilities and diversified sales streams to <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">drive long-term value creation</a> for stakeholders. The combined entity is expected to operate 175 manufacturing facilities across 36 countries, supported by <a href="https://translate.google.com/translate?client=srp&amp;hl=pt&amp;sl=en&amp;tl=pt&amp;u=https://leggett.gcs-web.com/news-releases/news-release-details/somnigroup-international-worlds-leading-bedding-company-acquire">a global workforce of over</a> 36,000 employees.<img src="https://cdn.ainvest.com/aigc/hxcmp/images/compress-1d0a9a6b01571001.png" alt="Somnigroup International announces new president of Leggett &amp; Platt">

Somnigroup International announces new president of Leggett & Platt

Catalyst<ul> <li>Analysts rate LEG as a Strong Buy, reflecting broad institutional optimism.</li></ul>Risk<ul> <li>Small order flow shows negative trends, indicating retail selling pressure.</li></ul>

Key Factors

Somnigroup International completed its acquisition of Leggett & Platt on August 26, paying approximately $2.3 billion in an all-stock deal.Tenable Holdings replaced Leggett & Platt in the S&P SmallCap 600 index, effective before the market open on August 31.Moody's Ratings concluded its review of Leggett & Platt, downgrading the company's rating while maintaining a stable outlook.Leggett & Platt was upgraded to a Zacks Rank #1 (Strong Buy) based on upward trends in earnings estimates.

LEG News