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

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Shareholders of record on Friday, December 13th will be paid a dividend of 0.05 per share on Monday, January 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.66%.

Leggett & Platt has increased its dividend by an average of 4.4% per year over the last three years. Leggett & Platt has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Leggett & Platt to earn $1.19 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 16.8%.

Leggett & Platt Stock Performance

Shares of LEG stock traded down $0.17 on Thursday, reaching $12.05. The stock had a trading volume of 798,865 shares, compared to its average volume of 2,295,161. Leggett & Platt has a 1 year low of $10.11 and a 1 year high of $27.58. The stock has a market cap of $1.62 billion, a P/E ratio of -2.03 and a beta of 1.07. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The company has a 50 day simple moving average of $12.75 and a 200 day simple moving average of $12.63.

Leggett & Platt (NYSE:LEG) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The business had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.10 billion. Leggett & Platt had a positive return on equity of 14.99% and a negative net margin of 18.53%. The business’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.36 earnings per share. Equities research analysts expect that Leggett & Platt will post 1.04 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on LEG shares. Truist Financial upped their price objective on shares of Leggett & Platt from $11.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 5th. StockNews.com raised shares of Leggett & Platt from a “sell” rating to a “hold” rating in a research note on Wednesday, August 28th. Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their target price on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.67.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.