Leggett & Platt, Incorporated (NYSE:LEG) Plans Quarterly Dividend of $0.42

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Monday, May 3rd, RTT News reports. Shareholders of record on Tuesday, June 15th will be given a dividend of 0.42 per share on Thursday, July 15th. This represents a $1.68 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Leggett & Platt’s previous quarterly dividend of $0.40.

Leggett & Platt has raised its dividend by 12.7% over the last three years and has increased its dividend annually for the last 50 consecutive years.

Shares of LEG stock traded up $1.23 on Monday, hitting $50.90. 946,317 shares of the stock traded hands, compared to its average volume of 977,766. The company has a debt-to-equity ratio of 1.47, a current ratio of 1.60 and a quick ratio of 0.98. The company has a market capitalization of $6.78 billion, a PE ratio of 29.92, a PEG ratio of 1.71 and a beta of 1.42. Leggett & Platt has a 1-year low of $24.01 and a 1-year high of $51.56. The company’s fifty day moving average is $47.85 and its 200 day moving average is $44.42.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Sunday, February 7th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.15 billion. Leggett & Platt had a return on equity of 21.93% and a net margin of 5.45%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.27 EPS. As a group, equities research analysts expect that Leggett & Platt will post 2.07 EPS for the current year.

Several equities research analysts recently issued reports on LEG shares. Zacks Investment Research lowered Leggett & Platt from a “buy” rating to a “hold” rating and set a $52.00 price target on the stock. in a research report on Tuesday, April 20th. Raymond James downgraded Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $48.00 price objective for the company. in a research note on Wednesday, February 10th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Leggett & Platt has an average rating of “Hold” and a consensus price target of $45.80.

In related news, Director Phoebe A. Wood sold 10,346 shares of the company’s stock in a transaction on Thursday, February 18th. The stock was sold at an average price of $41.42, for a total transaction of $428,531.32. Following the completion of the transaction, the director now directly owns 48,257 shares in the company, valued at approximately $1,998,804.94. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.53% of the stock is owned by corporate insiders.

Leggett & Platt Company Profile

Leggett & Platt, Incorporated designs, manufactures, and markets engineered components and products worldwide. It operates through three segments: Bedding Products; Specialized Products; and Furniture, Flooring & Textile Products. The company offers steel rods, drawn wires, foam chemicals and additives, innersprings, specialty foams, private label finished mattresses, mattress foundations, wire forms for adjustable beds, industrial sewing and quilting machines, and mattress packaging and glue drying equipment, as well as machines to shape wires into innersprings for industrial users of steel rods and wires, manufacturers of finished bedding, big box and e-commerce retailers, bedding brands and mattress retailers, department stores, and home improvement centers.

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Dividend History for Leggett & Platt (NYSE:LEG)

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