Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report) declared a quarterly dividend on Thursday, November 7th,RTT News reports. Investors of record on Friday, December 13th will be paid a dividend of 0.05 per share on Monday, January 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Friday, December 13th.
Leggett & Platt has increased its dividend by an average of 4.4% per year over the last three years. Leggett & Platt has a dividend payout ratio of 16.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Leggett & Platt to earn $1.19 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 16.8%.
Leggett & Platt Price Performance
Shares of NYSE LEG opened at $12.14 on Friday. The company has a debt-to-equity ratio of 2.13, a quick ratio of 0.84 and a current ratio of 1.48. The company has a 50 day simple moving average of $12.73 and a two-hundred day simple moving average of $12.58. Leggett & Platt has a fifty-two week low of $10.11 and a fifty-two week high of $27.58. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -2.02 and a beta of 1.07.
Wall Street Analyst Weigh In
A number of research firms have recently commented on LEG. StockNews.com upgraded shares of Leggett & Platt from a “sell” rating to a “hold” rating in a report on Wednesday, August 28th. Truist Financial increased their price target on shares of Leggett & Platt from $11.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Piper Sandler raised Leggett & Platt from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $13.00 in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Leggett & Platt presently has a consensus rating of “Hold” and a consensus price target of $12.67.
Leggett & Platt Company Profile
Leggett & Platt, Incorporated designs, manufactures, and sells engineered components and products in the United States, Europe, China, Canada, Mexico, and internationally. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, specialty foam chemicals and additives, innersprings, specialty foam for use in bedding and furniture, private label finished mattresses, ready-to-assemble mattress foundations, static foundations, and adjustable beds, as well as machines for producing innersprings; industrial sewing and quilting machines; mattress-packaging; and glue-drying equipment for various industrial users of steel rod and wire, manufacturers of finished bedding, bedding brands and mattress retailers, E-commerce retailers, big box retailers, department stores, and home improvement centers.
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