Leggett & Platt, Incorporated (LEG) to Issue Quarterly Dividend of $0.05 on August 24th

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, July 30th. Stockholders of record on Monday, August 10th will be given a dividend of 0.05 per share on Monday, August 24th. This represents a c) annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Monday, August 10th.

Leggett & Platt has decreased its dividend payment by an average of 0.3%per year over the last three years. Leggett & Platt has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Price Performance

Shares of Leggett & Platt stock opened at $9.61 on Friday. The business has a 50 day moving average of $10.76 and a 200 day moving average of $10.87. Leggett & Platt has a 52 week low of $8.32 and a 52 week high of $13.00. The company has a market cap of $1.31 billion, a PE ratio of 6.16 and a beta of 0.73. The company has a quick ratio of 1.45, a current ratio of 2.35 and a debt-to-equity ratio of 1.38.

Leggett & Platt (NYSE:LEG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.13. The business had revenue of $999.70 million for the quarter, compared to analysts’ expectations of $982.86 million. Leggett & Platt had a net margin of 5.64% and a return on equity of 13.31%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.30 earnings per share. As a group, equities research analysts forecast that Leggett & Platt will post 0.9 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in Leggett & Platt in the second quarter worth about $265,194,000. Vanguard Group Inc. lifted its holdings in shares of Leggett & Platt by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock valued at $208,890,000 after purchasing an additional 282,940 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Leggett & Platt by 6.1% during the fourth quarter. Geode Capital Management LLC now owns 3,173,733 shares of the company’s stock valued at $34,917,000 after purchasing an additional 183,218 shares during the last quarter. Quantinno Capital Management LP lifted its holdings in shares of Leggett & Platt by 22.7% during the first quarter. Quantinno Capital Management LP now owns 3,023,884 shares of the company’s stock valued at $29,876,000 after purchasing an additional 559,868 shares during the last quarter. Finally, Invenomic Capital Management LP boosted its position in shares of Leggett & Platt by 4.0% in the 4th quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock worth $26,813,000 after purchasing an additional 93,213 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

About Leggett & Platt

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.