Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report) announced a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.05 per share on Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.11%.
Leggett & Platt has raised its dividend payment by an average of 4.4% per year over the last three years and has increased its dividend every year for the last 53 years. Leggett & Platt has a payout ratio of 139.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 1.4 %
Shares of Leggett & Platt stock traded down $0.26 on Tuesday, reaching $18.07. The company’s stock had a trading volume of 2,149,930 shares, compared to its average volume of 1,648,353. The firm’s fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $22.32. Leggett & Platt has a 52 week low of $17.19 and a 52 week high of $33.50. The company has a quick ratio of 0.84, a current ratio of 1.49 and a debt-to-equity ratio of 1.26.
Analysts Set New Price Targets
LEG has been the topic of a number of analyst reports. Truist Financial cut their target price on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Tuesday, March 26th. TheStreet cut Leggett & Platt from a “c” rating to a “d+” rating in a research note on Monday, March 11th. Finally, StockNews.com cut Leggett & Platt from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $19.33.
Get Our Latest Research Report on Leggett & Platt
About Leggett & Platt
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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