LEG
Leggett & Platt Inc.
Industrial/Transportation
03/07/2013
Presented
| Date | 03/01/2013 |
| Price | $N/A |
| Market Cap | $4.35B |
| Ent Value | $5.04B |
| P/E Ratio | 65.69x |
| Book Value | $8.32 |
| Div Yield | 2.7% |
| Shares O/S | 142.10M |
| Ave Daily Vol | 1,320,000 |
| Short Int | 8.64% |
Current
| Price | $13.13 |
| Market Cap | $1.76B |
| Leggett & Platt, Incorporated designs and produces a range of engineered components and products worldwide. The companys Residential Furnishings segment offers innersprings and wire forms; steel mechanisms and hardware, springs and seat suspensions, steel tubular seat frames, bed frames and ornamental beds, and adjustable beds; and structural fabrics, carpet underlay materials, and geo components. This segment serves manufacturers of finished bedding products and upholstered furniture; retailers and distributors of adjustable and ornamental beds, bed frames, and carpet underlay; and contractors, landscapers, road construction companies, and government agencies using geo components. Its Commercial Fixturing & Components segment provides bases, columns, back rests, casters, and frames for office chairs and control devices; and private label finished furniture. This segment serves office, and institutional and commercial furniture manufacturers. The companys Industrial Materials segment offers steel rods, drawn wires, steel billets, fabricated wire products, welded steel tubing, fabricated tube components, and titanium and nickel tubing. This segment serves bedding and furniture and automotive seating manufacturers; aerospace suppliers and OEMs; mechanical spring makers; and waste recyclers and waste removal businesses. Its Specialized Products segment provides manual and power lumbar support and massage systems; seat suspension systems; automotive control cables; low voltage motors and motion assemblies; formed metal and wire components; quilting machines; machines for shaping wire into springs; industrial sewing/finishing machines; and van interiors. This segment primarily serves automobile seating and bedding manufacturers; and telecommunication, cable, home service, and delivery companies. The company sells its products through sales representatives and distributors. Leggett & Platt, Incorporated was founded in 1883 and is based in Carthage, Missouri. |
Highlights
The presenter was not presently short the shares of LEG at the time of the discussion, but was looking/ waiting for an entry point as the company’s valuation and fundamental trends appear to be in-range for a bearish bet. At best, he believes LEG holds steady in a rising market and underperforms. He outlined the following trends he is watching closely to place his bet on this “perceived housing play”:
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