Leggett & Platt, Inc. (NYSE:LEG) Announces Quarterly Dividend of $0.40

Leggett & Platt, Inc. (NYSE:LEG) announced a quarterly dividend on Tuesday, November 5th, Zacks reports. Shareholders of record on Friday, December 13th will be given a dividend of 0.40 per share on Wednesday, January 15th. This represents a $1.60 annualized dividend and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, December 12th.

Leggett & Platt stock traded down $0.72 during trading hours on Tuesday, hitting $51.43. 23,217 shares of the stock traded hands, compared to its average volume of 1,042,203. The firm’s 50-day moving average price is $51.36 and its two-hundred day moving average price is $42.01. The company has a current ratio of 1.74, a quick ratio of 1.05 and a debt-to-equity ratio of 1.84. The company has a market cap of $6.98 billion, a PE ratio of 20.72, a PEG ratio of 1.60 and a beta of 1.10. Leggett & Platt has a one year low of $33.48 and a one year high of $55.42.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.09. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Leggett & Platt had a return on equity of 28.04% and a net margin of 6.45%. The business’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.66 EPS. On average, sell-side analysts expect that Leggett & Platt will post 2.56 earnings per share for the current fiscal year.

In other news, SVP Russell J. Iorio sold 6,962 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $53.09, for a total value of $369,612.58. Following the sale, the senior vice president now directly owns 61,446 shares of the company’s stock, valued at approximately $3,262,168.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph W. Mcclanathan sold 4,399 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $54.79, for a total value of $241,021.21. Following the completion of the sale, the director now directly owns 25,455 shares in the company, valued at $1,394,679.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 99,838 shares of company stock worth $5,151,467. Insiders own 1.45% of the company’s stock.

Several research firms have weighed in on LEG. ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Stifel Nicolaus cut Leggett & Platt from a “buy” rating to a “hold” rating and lifted their price objective for the company from $52.00 to $55.00 in a research report on Tuesday, November 19th. SunTrust Banks cut Leggett & Platt from a “buy” rating to a “hold” rating in a research report on Wednesday, October 30th. TheStreet raised Leggett & Platt from a “c+” rating to a “b-” rating in a research report on Friday, September 27th. Finally, CJS Securities cut Leggett & Platt from an “outperform” rating to a “market perform” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Leggett & Platt currently has an average rating of “Hold” and a consensus price target of $55.00.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs and produces various engineered components and products worldwide. It operates through four segments: Residential Products, Furniture Products, Industrial Products, and Specialized Products. The Residential Products segment offers innersprings, wire forms, and machines to shape wire into various types of springs; industrial sewing/finishing machines, conveyor lines, mattress packaging, and glue-drying equipment, as well as quilting machines; and structural fabrics, carpet cushions, and geo components.

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Dividend History for Leggett & Platt (NYSE:LEG)

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