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

Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Thursday, May 21st. Shareholders of record on Monday, June 15th will be given a dividend of 0.05 per share on Wednesday, July 15th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, June 15th.

Leggett & Platt has decreased its dividend payment by an average of 0.3%per year over the last three years. Leggett & Platt has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Leggett & Platt to earn $1.06 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 18.9%.

Leggett & Platt Stock Performance

NYSE LEG opened at $10.03 on Friday. The company has a debt-to-equity ratio of 1.44, a current ratio of 2.33 and a quick ratio of 1.45. The firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.23 and a beta of 0.75. The company’s fifty day moving average is $10.32 and its two-hundred day moving average is $10.85. Leggett & Platt has a 52-week low of $7.86 and a 52-week high of $13.00.

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

Hedge Funds Weigh In On Leggett & Platt

Hedge funds have recently added to or reduced their stakes in the stock. Palisade Asset Management LLC acquired a new position in Leggett & Platt in the third quarter valued at about $29,000. Motiv8 Investments LLC acquired a new position in Leggett & Platt in the fourth quarter valued at about $34,000. Hantz Financial Services Inc. lifted its stake in Leggett & Platt by 32.0% in the fourth quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after buying an additional 783 shares during the period. Advisory Services Network LLC acquired a new position in Leggett & Platt in the third quarter valued at about $51,000. Finally, Kingdom Financial Group LLC. acquired a new position in Leggett & Platt in the fourth quarter valued at about $66,000. Institutional investors and hedge funds 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.