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

Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Thursday, July 30th. Shareholders of record on Monday, August 10th will be paid a dividend of 0.05 per share on Monday, August 24th. This represents a c) annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Monday, August 10th.

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. Analysts expect Leggett & Platt to earn $1.03 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 19.4%.

Leggett & Platt Trading Down 2.6%

Shares of NYSE:LEG traded down $0.27 during trading on Thursday, reaching $10.01. 1,879,742 shares of the company traded hands, compared to its average volume of 2,384,537. The company has a current ratio of 2.33, a quick ratio of 1.45 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 firm has a market capitalization of $1.37 billion, a price-to-earnings ratio of 6.21 and a beta of 0.71. The business’s fifty day moving average is $10.79 and its 200-day moving average is $10.98.

Leggett & Platt (NYSE:LEG) last issued its earnings results on Thursday, May 7th. The company reported $0.15 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 firm had revenue of $918.20 million during the quarter, compared to analysts’ expectations of $946.79 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. As a group, analysts forecast that Leggett & Platt will post 0.9 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Elevation Wealth Partners LLC raised its holdings in Leggett & Platt by 752.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 2,311 shares of the company’s stock worth $27,000 after purchasing an additional 2,040 shares in the last quarter. Palisade Asset Management LLC bought a new stake in shares of Leggett & Platt during the 3rd quarter valued at about $29,000. Motiv8 Investments LLC purchased a new position in shares of Leggett & Platt during the fourth quarter valued at about $34,000. Hantz Financial Services Inc. boosted its position in Leggett & Platt by 32.0% during the 4th quarter. Hantz Financial Services Inc. now owns 3,231 shares of the company’s stock valued at $36,000 after acquiring an additional 783 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Leggett & Platt during the 3rd quarter worth approximately $51,000. 64.23% of the stock is owned by hedge funds and other institutional investors.

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.