Argent Trust Co Lowers stake in Leggett & Platt (LEG)

Leggett & Platt (LEG) : Argent Trust Co reduced its stake in Leggett & Platt by 0.02% during the most recent quarter end. The investment management company now holds a total of 99,428 shares of Leggett & Platt which is valued at $4,853,081 after selling 17 shares in Leggett & Platt , the firm said in a disclosure report filed with the SEC on May 10, 2016.Leggett & Platt makes up approximately 2.35% of Argent Trust Co’s portfolio.

Other Hedge Funds, Including , Nikko Asset Management Americas reduced its stake in LEG by selling 5,500 shares or 46.61% in the most recent quarter. The Hedge Fund company now holds 6,300 shares of LEG which is valued at $307,503. Leggett & Platt makes up approx 0.04% of Nikko Asset Management Americas’s portfolio.

Leggett & Platt opened for trading at $48.9 and hit $49.3 on the upside on Monday, eventually ending the session at $49.09, with a gain of 0.57% or 0.28 points. The heightened volatility saw the trading volume jump to 7,47,692 shares. Company has a market cap of $6,594 M.

On the company’s financial health, Leggett & Platt reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.55. The company had revenue of $938.40 million for the quarter, compared to analysts expectations of $960.47 million. The company’s revenue was down -2.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.50 EPS.

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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