It looks like the S&P 500 Index downturn may have ended.
The market declined (-14.6%) from the high of January 4th to the low on
February 24th. This drop was an opportunity for investors to buy high-quality
companies. Since then, the market has increased by ~12.5%. So overall, the
market is down about 6% from its all-time high. However, there are still
companies that have not had a 6%+ run-up. For example, Leggett & Platt Inc.
(LEG), a Dividend King has been falling these past few weeks while the stock
market has increased. However, I see this as an opportunity to continue buying
LEG shares.
Overview of Leggett & Platt (KEG) – A High-Yield
Dividend King
Leggett & Platt Inc was founded in 1883. Today, the
company designs and produces engineered components and products found in most
homes and automobiles. It operates its business through three segments: Bedding
Products, Specialized Products, Furniture, Flooring, and Textile Products. The
company serves a broad suite of customers around the world. Its products
include bedding components, automotive seat support and lumbar systems,
specialty bedding foam and private label finished mattresses, home furniture and
work furniture components, flooring underlayment, adjustable beds, and various
other products.
Total revenue was $5,072.6 million in 2021 and the past 12
months. Roughly 50% of net sales are from bedding, 17% of sales are from
flooring and textiles, 16% of sales are from automotive, and 8% of sales come
from home furniture.
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