Leggett & Platt, Incorporated (NYSE:LEG – Get Free Report) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Stockholders 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 dividend yield of 1.11%.
Leggett & Platt has raised its dividend payment by an average of 4.4% annually over the last three years and has raised 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. 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 Stock Down 1.4 %
Shares of LEG opened at $18.07 on Wednesday. Leggett & Platt has a 52 week low of $17.19 and a 52 week 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. The stock has a fifty day moving average of $19.04 and a 200-day moving average of $22.28.
Analysts Set New Price Targets
A number of analysts recently weighed in on LEG shares. StockNews.com downgraded Leggett & Platt from a “hold” rating to a “sell” rating in a report on Monday, March 11th. TheStreet downgraded Leggett & Platt from a “c” rating to a “d+” rating in a report on Monday, March 11th. Finally, Truist Financial decreased their price objective on Leggett & Platt from $18.00 to $16.00 and set a “hold” rating for the company in a report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $19.33.
Get Our Latest Research Report on LEG
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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