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

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, February 26th. Stockholders of record on Friday, March 13th will be paid a dividend of 0.05 per share on Wednesday, April 15th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 13th.

Leggett & Platt has decreased its dividend by an average of 0.3%per year over the last three years. Leggett & Platt has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE LEG traded down $0.27 during trading on Friday, hitting $11.57. The company had a trading volume of 260,653 shares, compared to its average volume of 1,729,808. The business’s 50-day moving average is $11.85 and its 200 day moving average is $10.36. The company has a market cap of $1.57 billion, a P/E ratio of 6.85 and a beta of 0.72. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.45 and a current ratio of 2.25. Leggett & Platt has a 52 week low of $6.47 and a 52 week high of $13.00.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.22. The company had revenue of $938.60 million during the quarter, compared to analysts’ expectations of $938.74 million. Leggett & Platt had a return on equity of 15.00% and a net margin of 5.80%.The business’s quarterly revenue was down 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities research analysts predict that Leggett & Platt will post 1.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Leggett & Platt

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Palisade Asset Management LLC purchased a new stake in shares of Leggett & Platt during the third quarter worth about $29,000. Quent Capital LLC purchased a new stake in Leggett & Platt during the 3rd quarter worth about $34,000. Motiv8 Investments LLC acquired a new position in Leggett & Platt in the fourth quarter valued at approximately $34,000. Hantz Financial Services Inc. grew its position in shares of Leggett & Platt by 32.0% in the 4th 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 last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Leggett & Platt during the third quarter worth about $51,000. Hedge funds and other 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.