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

Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be paid a dividend of 0.05 per share on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th.

Leggett & Platt has decreased its dividend 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. Equities analysts expect Leggett & Platt to earn $1.03 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 19.4%.

Leggett & Platt Trading Down 2.6%

Shares of NYSE:LEG opened at $10.01 on Friday. Leggett & Platt has a 12 month low of $7.86 and a 12 month high of $13.00. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. The company’s fifty day simple moving average is $10.79 and its 200 day simple moving average is $10.96. The firm has a market cap of $1.37 billion, a price-to-earnings ratio of 6.21 and a beta of 0.71.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, May 7th. The company reported $0.15 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.11). The company had revenue of $918.20 million during the quarter, compared to analyst estimates of $946.79 million. Leggett & Platt had a return on equity of 12.62% and a net margin of 5.69%.Leggett & Platt’s revenue for the quarter was down 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, research analysts forecast that Leggett & Platt will post 0.9 EPS for the current fiscal year.

Hedge Funds Weigh In On Leggett & Platt

Hedge funds have recently modified their holdings of the stock. M&T Bank Corp boosted its position in Leggett & Platt by 8,333.0% during the fourth quarter. M&T Bank Corp now owns 1,132,132 shares of the company’s stock valued at $12,453,000 after purchasing an additional 1,118,707 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Leggett & Platt by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after purchasing an additional 282,940 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of Leggett & Platt by 602.2% during the 4th quarter. SG Americas Securities LLC now owns 370,643 shares of the company’s stock worth $4,077,000 after purchasing an additional 317,861 shares in the last quarter. Invenomic Capital Management LP raised its stake in shares of Leggett & Platt by 4.0% during the 4th quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock worth $26,813,000 after purchasing an additional 93,213 shares in the last quarter. Finally, Mutual Advisors LLC boosted its holdings in shares of Leggett & Platt by 73.4% in the 4th quarter. Mutual Advisors LLC now owns 167,820 shares of the company’s stock valued at $1,846,000 after buying an additional 71,034 shares during the last quarter. Institutional investors own 64.23% of the company’s stock.

About Leggett & Platt

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.