Leggett & Platt, Incorporated (LEG) to Issue Quarterly Dividend of $0.05 on April 15th

Leggett & Platt, Incorporated (NYSE:LEG) declared 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 2.45%. 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 1.0 %

LEG stock opened at $8.17 on Wednesday. Leggett & Platt has a one year low of $7.98 and a one year high of $20.48. 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 firm’s fifty day moving average is $9.90 and its 200 day moving average is $11.37. The firm has a market cap of $1.10 billion, a PE ratio of -2.19 and a beta of 1.11.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.21 earnings per share for the quarter, meeting the consensus estimate of $0.21. The firm had revenue of $1.06 billion during 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%. On average, research analysts forecast that Leggett & Platt will post 1.14 EPS for the current year.

Analysts Set New Price Targets

LEG has been the subject of several research analyst reports. The Goldman Sachs Group reduced their price target on shares of Leggett & Platt from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, January 14th. Truist Financial dropped their target price on shares of Leggett & Platt from $13.00 to $11.00 and set a “hold” rating for the company in a report on Wednesday, January 29th.

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.