Dividend King On A Tightrope: Leggett & Platt's Fight To Maintain Its Status [Seeking Alpha]
Leggett & Platt, Incorporated (LEG)
Last leggett & platt, incorporated earnings: 2/3 04:20 pm
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Source: Seeking Alpha
The company's diversified product portfolio and Dividend King status provide some appeal, but its heavy debt load and limited cash flow raise concerns. A potential housing market recovery and a restructuring plan offer hope, but rising interest rates could jeopardize future dividend increases. Introduction Leggett & Platt ( NYSE: LEG ), a diversified manufacturer with a rich dividend history, offers a tempting 10.24% yield. This Dividend King's diverse product portfolio across bedding, furniture, and specialized products is appealing. However, a closer look reveals a troubled core bedding segment (42% of sales) facing stiff competition and cost disadvantages. While a potential housing market recovery and a restructuring plan offer hope, the company's heavy debt load and limited cash flow raise concerns. Investment Case Leggett & Platt is an old, robust, and versatile manufacturing company, as revealed in its recent 10K report . The company designs and produces a wide range
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LEG
News
- Trade secret claim still viable despite disclosure in patent application [Reuters]Reuters
- Leggett & Platt, Incorporated (NYSE: LEG) had its price target lowered by analysts at Truist Financial Co. from $16.00 to $13.00. They now have a "hold" rating on the stock.MarketBeat
- Leggett & Platt, Incorporated (NYSE:LEG) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Leggett & Platt, Incorporated (NYSE: LEG) had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $20.00 to $14.00. They now have a "neutral" rating on the stock.MarketBeat
- Leggett & Platt, Incorporated (NYSE:LEG) Just Reported Earnings, And Analysts Cut Their Target Price [Yahoo! Finance]Yahoo! Finance
LEG
Earnings
- 4/30/24 - Miss
LEG
Sec Filings
- 5/3/24 - Form 4
- 4/30/24 - Form 8-K
- 4/22/24 - Form 4
- LEG's page on the SEC website