Leggett & Platt
Founded in 1883, Leggett & Platt Inc. (NYSE:LEG) designs and manufactures a wide range of products used in items from home furnishings to automobile interiors to wires and tubing for industrial use. This is a true broad-based play on the recovery — but don’t let the old age of this stock fool you. Unlike sleepy blue chips that might have trouble ramping up to capitalize on demand, LEG has a market cap just north of $3 billion and is much more agile.
Fundamentally, Leggett & Platt is no slouch. Quarterly revenue has increased for seven straight quarters year-over-year, and annual profits have marched steadily upward despite the last few years of turmoil. In fact, fiscal 2011 EPS will be up over 60% above fiscal 2008 numbers!
Throw in a bulletproof dividend history and you have a real winner on your hands. Leggett & Platt has paid shareholders a dividend since 1939, just increased its dividend in October and currently boasts a 4.8% yield.
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