Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Leggett & Platt Inc T.LEG


Primary Symbol: LEG

Leggett & Platt, Incorporated is a manufacturer that conceives, designs, and produces a range of engineered components and products found in many homes and automobiles. The Company’s segments include Bedding Products, Specialized Products and Furniture, Flooring & Textile Products. Bedding Products segment supplies a variety of components and machinery used by bedding manufacturers in the production and assembly of their finished products, as well as produces private label finished mattresses for bedding brands. Specialized Products segment supplies lumbar support systems, seat suspension systems, motors and actuators, and control cables used by automotive manufacturers. It also produces and distribute tubing and tube assemblies for the aerospace industry and engineered hydraulic cylinders used in the material-handling and construction industries. Furniture, Flooring & Textile Products segment supplies a range of components for residential and work furniture manufacturers.


NYSE:LEG - Post by User

Bullboard Posts
Post by Speedmasteron Jul 08, 2011 6:31pm
799 Views
Post# 18812873

Interview with Eric Nuttall talking about LEG...

Interview with Eric Nuttall talking about LEG...

For those interested, here is the link:

https://seekingalpha.com/article/277710-eric-nuttall-looking-for-oil-and-gas-values-not-value-traps





EN: Well, we could walk through some of my top holdings. That's probably the best way to understand my style.
TER: Sure.
EN: In terms of size, my largest current position is Legacy Oil & Gas Inc. It's a $2 billion-market cap light oil company, and it's a case study of how we try to look at things differently. There was a management change within a major shareholder, Fidelity Investments, and the manager had to blow out 18 million shares. That took the share price from $17.50 down to around $11.50; not for any fundamental reason — it was due to fund flow. The stock trades at around $12 today, but I was aggressively buying at around $12.50 and was buying every share I could at around $11.50.
When I started buying LEG, I was paying the lowest multiple of price-to-cash flow in its corporate history. and I thought my downside was limited to commodity and market risk. I knew the company had very significant exposure to several emerging plays, including the Spearfish in North Dakota and the Alberta Bakken, which is an emerging tight oil play. So, I paid a very low multiple and got all of the upside free. I could see the stock at $16. So, while a 33% upside from today's level doesn't sound super sexy, it's decent; and I think my downside risk is very low. The company is managed by, in my opinion, one of the best light oil teams in the business, which is comprised of proven value creators; and the balance sheet is very clean.
Bullboard Posts