Leggett & Platt (NYSE: LEG) is a diversified manufacturer (and member of the S&P 500) that conceives, designs, and produces a broad variety of engineered components and products that can be found in most homes and automobiles. The 138-year-old company (founded in 1883) is comprised of 15 business units, 20,000 employee-partners, and 135 facilities located in 17 countries. Leggett & Platt is the leading U.S.-based manufacturer of: a) components for bedding; b) automotive seat support and lumbar systems; c) specialty bedding foams and private-label compressed mattresses; d) components for home furniture and work furniture; e) flooring underlayment; f) adjustable beds; and g) bedding industry machinery.

Investors tend to appreciate Leggett & Platt’s:

• Annual dividend increases – 49 consecutive years
• 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