Leggett & Platt, Incorporated to Issue 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 given a dividend of 0.05 per share on Tuesday, April 15th. This represents a $0.20 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Friday, March 14th.

Leggett & Platt has decreased its dividend payment 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. 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 Down 2.8 %

NYSE:LEG opened at $9.15 on Friday. The stock has a 50-day simple moving average of $10.07 and a 200 day simple moving average of $11.59. Leggett & Platt has a one year low of $9.10 and a one year high of $21.03. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -2.45 and a beta of 1.12. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.14 and a current ratio of 2.00.

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

Wall Street Analyst Weigh In

LEG has been the topic of a number of recent research reports. Truist Financial cut their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group reduced their price objective on 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 equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt has a consensus rating of “Hold” and an average target price of $12.00.

About Leggett & Platt

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.