Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Investors of record on Friday, June 14th will be paid a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Friday, June 14th.
Leggett & Platt has increased its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend annually for the last 53 consecutive years. Leggett & Platt has a payout ratio of 139.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Leggett & Platt to earn $1.32 per share next year, which means the company may not be able to cover its $1.84 annual dividend with an expected future payout ratio of 139.4%.
Leggett & Platt Trading Down 26.6 %
Shares of NYSE LEG opened at $13.27 on Thursday. The business’s 50 day moving average is $18.90 and its 200-day moving average is $22.21. Leggett & Platt has a 1-year low of $11.02 and a 1-year high of $33.50. The company has a current ratio of 1.49, a quick ratio of 0.84 and a debt-to-equity ratio of 1.26.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Truist Financial cut their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Tuesday, March 26th. Piper Sandler decreased their target price on shares of Leggett & Platt from $16.00 to $13.00 and set an “underweight” rating on the stock in a report on Wednesday. StockNews.com lowered shares of Leggett & Platt from a “hold” rating to a “sell” rating in a research report on Monday, March 11th. Finally, TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $17.67.
Read Our Latest Research Report on LEG
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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