B T Capital Management Dba Alpha Capital Management Lowers stake in Leggett & Platt (LEG)

Leggett & Platt (LEG) : B T Capital Management Dba Alpha Capital Management reduced its stake in Leggett & Platt by 0.88% during the most recent quarter end. The investment management company now holds a total of 45,540 shares of Leggett & Platt which is valued at $2,251,498 after selling 404 shares in Leggett & Platt , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Leggett & Platt makes up approximately 1.62% of B T Capital Management Dba Alpha Capital Management’s portfolio.

Other Hedge Funds, Including , Pinebridge Investments boosted its stake in LEG in the latest quarter, The investment management firm added 1,383 additional shares and now holds a total of 1,731 shares of Leggett & Platt which is valued at $85,581. Old Mutual Customised Solutions (proprietary) Ltd sold out all of its stake in LEG during the most recent quarter. The investment firm sold 3,800 shares of LEG which is valued $180,956.Vantage Investment Advisors boosted its stake in LEG in the latest quarter, The investment management firm added 2 additional shares and now holds a total of 370 shares of Leggett & Platt which is valued at $17,316. Leggett & Platt makes up approx 0.01% of Vantage Investment Advisors’s portfolio.Kayne Anderson Rudnick Investment Management boosted its stake in LEG in the latest quarter, The investment management firm added 67,653 additional shares and now holds a total of 87,330 shares of Leggett & Platt which is valued at $4,087,044. Leggett & Platt makes up approx 0.05% of Kayne Anderson Rudnick Investment Management’s portfolio.Oppenheimer Co Inc reduced its stake in LEG by selling 989 shares or 2.38% in the most recent quarter. The Hedge Fund company now holds 40,620 shares of LEG which is valued at $1,857,146. Leggett & Platt makes up approx 0.06% of Oppenheimer Co Inc’s portfolio.

Leggett & Platt opened for trading at $48.82 and hit $49.15 on the upside on Monday, eventually ending the session at $48.86, with a gain of 0.14% or 0.07 points. The heightened volatility saw the trading volume jump to 4,80,266 shares. Company has a market cap of $6,532 M.

On the company’s financial health, Leggett & Platt reported $0.67 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.65. The company had revenue of $948.90 million for the quarter, compared to analysts expectations of $1009.03 million. The company’s revenue was down -6.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.67 EPS.

Investors should note that on Nov 8, 2016, Leggett & Platt announced a cash dividend of $0.3400. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Jan 13, 2017.

Leggett & Platt Incorporated is a manufacturer that conceives designs and produces a range of engineered components and products found in homes offices automobiles and commercial aircraft. The Company operates in four segments: Residential Furnishings segment which manufactures steel coiled bedsprings; Commercial Fixturing & Components segment which include work furniture group that designs manufactures and distributes a range of engineered components and products primarily for the office seating market; Industrial Materials segment consists of wire group which operates a steel rod mill and tubing group which supplies welded steel tubing and Specialized Products segment designs manufactures and sells products including automotive seating components specialized machinery and equipment and service van interiors. Its brands include Semi-Flex ComfortCore Mira-Coil Lura-Flex Superlastic Super Sagless Tack & Jump Schukra Gribetz Masterack and Hanes among others.

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