Sarasin Partners Llp Lowers stake in Leggett & Platt (LEG)

Leggett & Platt (LEG) : Sarasin Partners Llp reduced its stake in Leggett & Platt by 3.92% during the most recent quarter end. The investment management company now holds a total of 514,675 shares of Leggett & Platt which is valued at $23,536,088 after selling 20,993 shares in Leggett & Platt , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Leggett & Platt makes up approximately 0.38% of Sarasin Partners Llp’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in LEG in the latest quarter, The investment management firm added 186 additional shares and now holds a total of 33,257 shares of Leggett & Platt which is valued at $1,520,843. Leggett & Platt makes up approx 0.03% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio. Parametrica Management Ltd added LEG to its portfolio by purchasing 7,837 company shares during the most recent quarter which is valued at $358,308. Leggett & Platt makes up approx 1.01% of Parametrica Management Ltd’s portfolio.Raymond James Trust N.a. boosted its stake in LEG in the latest quarter, The investment management firm added 2,321 additional shares and now holds a total of 11,974 shares of Leggett & Platt which is valued at $549,726. Leggett & Platt makes up approx 0.05% of Raymond James Trust N.a.’s portfolio.Gofen Glossberg Il reduced its stake in LEG by selling 5 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 5,200 shares of LEG which is valued at $238,732. Leggett & Platt makes up approx 0.01% of Gofen Glossberg Il’s portfolio.

Leggett & Platt opened for trading at $45.93 and hit $46.15 on the upside on Friday, eventually ending the session at $45.73, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 6,52,626 shares. Company has a market cap of $6,113 M.

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.

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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