Here are three key updates for your portfolio: Briggs & Stratton Corp., Lamb Weston Holdings Inc. and Alliant Energy Corp.

Article Excerpt

BRIGGS & STRATTON CORP. $2.28 is still a hold. The company (New York symbol BGG; Conservative Growth Portfolio, Manufacturing & Industry sector; Shares outstanding: 42.5 million; Market cap: $96.9 million; Price-to-sales ratio: 0.1; Dividend suspended in March 2020; TSINetwork Rating: Extra Risk; makes lawnmower engines, portable power generators, pressure washers, and snowblowers and throwers. Under a new strategy to protect investor value, Briggs will focus on making engines for industrial and consumer uses, standby power generators and commercial battery systems. As a result, it will sell most of its consumer products business—a maker of lawnmowers, pressure washers and portable generators. The company will use the proceeds from those sales to cut its long-term debt of $424.8 million (as of December 29, 2019). That’s a high 4.4 times its depressed market cap. It also held cash of $42.2 million. To further conserve funds, the company has now suspended its quarterly dividend payment of $0.05 a share. LAMB WESTON HOLDINGS INC. $56 is still a buy. The company (New…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.