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

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

Leggett & Platt has decreased its dividend by an average of 28.4% per year over the last three years. Leggett & Platt has a dividend payout ratio of 16.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Down 2.3 %

LEG traded down $0.22 on Wednesday, hitting $9.41. The company had a trading volume of 795,302 shares, compared to its average volume of 1,740,081. Leggett & Platt has a 12-month low of $9.18 and a 12-month high of $21.03. The stock has a fifty day moving average price of $10.09 and a 200-day moving average price of $11.62. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of -2.53 and a beta of 1.12.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. The Goldman Sachs Group lowered their price target on Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, January 14th. Piper Sandler upgraded Leggett & Platt from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $11.00 to $13.00 in a research note on Wednesday, October 30th. Finally, Truist Financial lowered their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.