2024-04-19 09:12:16 ET
Summary
- Leggett & Platt has a strong dividend track record, but its current payout ratio of 175% is unsustainable and may lead to a dividend cut.
- The past year has seen declines across the board for Leggett & Platt, dragging down the stock price.
- Continued economic headwinds mean that Leggett & Platt are set for another tough year.
- Despite apparent upside, the uncertainties surrounding Leggett & Platt make it a hold.
Investment Thesis
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Leggett & Platt: Dividend King Status At Stake As Tough Environment Set To Persist