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

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Wednesday, February 26th, RTT News reports. Shareholders of record on Friday, March 14th will be given a dividend of 0.05 per share on Tuesday, April 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.13%.

Leggett & Platt has decreased its dividend by an average of 28.4% annually over the last three years. Leggett & Platt has a dividend payout ratio of 16.5% indicating that 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 Stock Performance

NYSE:LEG opened at $9.40 on Thursday. The company has a quick ratio of 1.14, a current ratio of 2.00 and a debt-to-equity ratio of 2.70. The company has a market cap of $1.26 billion, a P/E ratio of -2.52 and a beta of 1.12. Leggett & Platt has a fifty-two week low of $9.18 and a fifty-two week high of $21.03. The firm’s 50 day moving average is $10.08 and its two-hundred day moving average is $11.60.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.21 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.21. Leggett & Platt had a negative net margin of 11.67% and a positive return on equity of 17.09%. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.03 billion. Analysts expect that Leggett & Platt will post 1.14 EPS for the current year.

Analyst Ratings Changes

LEG has been the subject of several recent research reports. Truist Financial dropped their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Piper Sandler raised shares of Leggett & Platt from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $11.00 to $13.00 in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.00.

Leggett & Platt Company Profile

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.