For over 130 years Leggett & Platt (NYSE: LEG) has been enhancing people’s lives as a diversified manufacturer that designs and produces engineered products found in most homes, offices, and automobiles. The company is comprised of 18 business units, 19,000 employee-partners, and 130 manufacturing facilities located in 19 countries.
Leggett & Platt is the leading U.S. manufacturer of: a) components for residential furniture and bedding; b) carpet cushion; c) adjustable bed bases; d) work furniture and components; e) drawn steel wire; f) automotive seat support & lumbar systems; g) bedding industry machinery.
Investors tend to appreciate Leggett & Platt’s:
- Annual dividend increases – 44 consecutive years – at approximately 13% compound annual growth
- Significant market positions
- Strong cash flow and solid balance sheet
- Management's stock ownership and deferral of cash compensation
- Candor and "down to earth" culture