Pegasus Partners Ltd. buys $2,172,868 stake in Leggett & Platt (LEG)

Leggett & Platt (LEG) : Pegasus Partners Ltd. scooped up 860 additional shares in Leggett & Platt during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 41,075 shares of Leggett & Platt which is valued at $2,172,868.Leggett & Platt makes up approximately 1.08% of Pegasus Partners Ltd.’s portfolio.

Other Hedge Funds, Including , Candriam Luxembourg S.c.a. boosted its stake in LEG in the latest quarter, The investment management firm added 29,196 additional shares and now holds a total of 45,807 shares of Leggett & Platt which is valued at $2,452,507. Leggett & Platt makes up approx 0.06% of Candriam Luxembourg S.c.a.’s portfolio.Davenport Co reduced its stake in LEG by selling 245 shares or 4.07% in the most recent quarter. The Hedge Fund company now holds 5,769 shares of LEG which is valued at $303,046.

Leggett & Platt closed down -0.24 points or -0.46% at $51.73 with 11,22,139 shares getting traded on Wednesday. Post opening the session at $51.91, the shares hit an intraday low of $51.5 and an intraday high of $51.9299 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Leggett & Platt reported $0.66 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.63. The company had revenue of $958.30 million for the quarter, compared to analysts expectations of $1003.58 million. The company’s revenue was down -3.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Investors should note that on Aug 4, 2016, Leggett & Platt announced a cash dividend of $0.3400. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 14, 2016.

Many Wall Street Analysts have commented on Leggett & Platt. Leggett & Platt was Downgraded by Raymond James to ” Mkt Perform” on Aug 1, 2016. Leggett & Platt was Downgraded by Hilliard Lyons to ” Underperform” on Jul 29, 2016.

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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