Leggett & Platt, Incorporated (NYSE:LEG) Declares $0.05 Quarterly Dividend

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, February 26th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.05 per share on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, March 13th.

Leggett & Platt has decreased its dividend payment by an average of 0.3%annually over the last three years. Leggett & Platt has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Leggett & Platt to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 16.1%.

Leggett & Platt Price Performance

Shares of LEG traded down $0.27 during trading hours on Friday, hitting $11.57. 260,653 shares of the company were exchanged, compared to its average volume of 1,729,808. The firm has a fifty day simple moving average of $11.85 and a 200-day simple moving average of $10.36. The company has a market capitalization of $1.57 billion, a PE ratio of 6.85 and a beta of 0.72. Leggett & Platt has a one year low of $6.47 and a one year high of $13.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.25 and a quick ratio of 1.45.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $0.22 EPS for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $938.60 million during the quarter, compared to analyst estimates of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The business’s quarterly revenue was down 11.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. As a group, sell-side analysts predict that Leggett & Platt will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on LEG. Weiss Ratings restated a “hold (c-)” rating on shares of Leggett & Platt in a research report on Monday, December 29th. Piper Sandler increased their target price on shares of Leggett & Platt from $10.00 to $12.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Finally, Zacks Research cut Leggett & Platt from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 5th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Leggett & Platt currently has an average rating of “Hold” and an average price target of $11.67.

Leggett & Platt Company Profile

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.