LEG - Leggett & Platt: A Cash Generation Machine Priced At A Discount
2024-06-24 04:10:04 ET
Summary
- Leggett & Platt's share price has declined by more than 80% over the past 3 years, culminating in a drop of over 25% after the recent dividend cut.
- Recent weakness in the industry and low-cost competition from overseas have caused revenue and margins to decline, ultimately making the hefty dividend payout unsustainable.
- The company's challenges are real, but the drop in share price offers an opportunity for long-term investors to generate an attractive return.
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Leggett & Platt: A Cash Generation Machine Priced At A Discount