Loudon Investment Management LLC Cuts Stake in Leggett & Platt by 14.7% in 1st Quarter
July 22, 2023
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Leggett & Platt ($NYSE:LEG) Incorporated is a diversified manufacturer that designs and produces a range of engineered components and products for customers around the world. The company’s products include bedding components, specialty fabrics, residential and commercial furniture, flooring and carpet underlay, and automotive seating components. This comes amid an overall decline in stock prices for the company over the past year. The decrease in Loudon Investment Management LLC’s holdings could signal a shift in investor sentiment towards Leggett & Platt or a repositioning of their portfolio to better meet their long-term goals.
It is important to note that even with the decrease, Loudon Investment Management LLC still holds a significant amount of Leggett & Platt stock. The company remains one of the largest institutional investors in the company and will likely continue to closely monitor their investment. As such, any further changes in their holdings of Leggett & Platt stock should be watched closely by investors.
Analysis
GoodWhale’s analysis of Leggett & Platt’s financials using our Star Chart reveals that they have a high health score of 9/10 when it comes to their cashflows and debt, indicating that they are in a strong position to sustain future operations in times of crisis. Further, Leggett & Platt is strong in dividend, profitability, and medium in asset, but weak in growth. This leads us to classify them as a ‘cow,’ a type of company we conclude has the track record of paying out consistent and sustainable dividends. Given their strong cash flow position and consistent dividends, Leggett & Platt may be an attractive investment for long-term and income-focused investors looking for a steady stream of income. Further, given their solid balance sheet position, they may also be attractive to value investors. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for LEG. More…
| Total Revenues | Net Income | Net Margin |
| 5.04k | 272.9 | 5.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for LEG. More…
| Operations | Investing | Financing |
| 499.1 | -202.1 | -264.1 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for LEG. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 5.27k | 3.6k | 12.33 |
Key Ratios Snapshot
Some of the financial key ratios for LEG are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.8% | -5.3% | 8.7% |
| FCF Margin | ROE | ROA |
| 7.5% | 16.7% | 5.2% |
Peers
The company operates in 19 countries and sells its products to customers in more than 130 countries. Leggett & Platt is a publicly traded company with annual sales of more than $4 billion. The company has more than 30,000 employees. Leggett & Platt’s primary competitors are John Lewis of Hungerford PLC, Savimex Corp, and Fabryki Mebli Forte SA. Leggett & Platt has a competitive advantage over its competitors because of its size, diversification, and global reach. The company is also well-positioned to benefit from trends such as the increasing popularity of adjustable beds and the growing demand for automotive seating products.
– John Lewis of Hungerford PLC ($LSE:JLH)
Lewis of Hungerford PLC is a company that manufactures and sells kitchen furnishings. As of 2022, it has a market capitalization of 2.61 million GBP and a return on equity of 35.66%. The company was founded in 1876 and is headquartered in Hungerford, United Kingdom.
– Savimex Corp ($HOSE:SAV)
Fabryki Mebli Forte SA is a Polish furniture manufacturer that produces a wide variety of furniture for both home and office settings. The company has a market capitalization of 445.11M as of 2022 and a return on equity of 10.25%. Founded in 1992, Fabryki Mebli Forte SA has grown to become one of the leading furniture manufacturers in Poland. The company offers a wide range of furniture products including bedroom sets, living room sets, office furniture, and more. Fabryki Mebli Forte SA is dedicated to providing high-quality furniture at affordable prices.
Summary
This suggests that investors have lost confidence in the company’s prospects despite having a strong financial position and experienced management team. Other investors may wish to review its performance, including its financials, its competitive position, and the overall macroeconomic environment before committing to any investment strategy.
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