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

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

Leggett & Platt has decreased its dividend by an average of 0.3%annually over the last three years. Leggett & Platt has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Research 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 Price Performance

LEG opened at $10.03 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.33 and a debt-to-equity ratio of 1.44. Leggett & Platt has a 52-week low of $7.86 and a 52-week high of $13.00. The company has a 50 day moving average of $10.32 and a two-hundred day moving average of $10.85. The company has a market cap of $1.37 billion, a P/E ratio of 6.23 and a beta of 0.75.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.15 earnings per share (EPS) 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 business had revenue of $918.20 million for the quarter, compared to analysts’ expectations of $946.79 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. Leggett & Platt’s quarterly revenue was down 10.2% compared to the same quarter last year. On average, analysts expect that Leggett & Platt will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LEG has been the subject of several research reports. Truist Financial decreased their price objective on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a research note on Friday, May 8th. Weiss Ratings upgraded shares of Leggett & Platt from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Zacks Research downgraded shares of Leggett & Platt from a “hold” rating to a “strong sell” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen downgraded shares of Leggett & Platt from a “buy” rating to a “hold” rating in a research note on Saturday, February 21st. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $11.33.

Leggett & Platt Company Profile

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.