Leggett & Platt, Incorporated (NYSE:LEG) Declares Quarterly Dividend of $0.05

Key Points

• Leggett & Platt, Incorporated has declared a quarterly dividend of $0.05 per share, with the payment set for October 15 to shareholders of record by September 15, representing a yield of 2.3%.
• The company reported earnings of $0.30 per share for the last quarter, exceeding analysts' estimates, although its revenue decreased by 6.3% year-over-year.
• Leggett & Platt maintains a **payout ratio of 16.3%**, indicating that its dividend is well-supported by earnings, with analysts forecasting an EPS of $1.24 for the next year.

Leggett & Platt, Incorporated (NYSE:LEG - Get Free Report) announced a quarterly dividend on Thursday, August 7th, RTT News reports. Shareholders of record on Monday, September 15th will be given a dividend of 0.05 per share on Wednesday, October 15th. This represents a c) annualized dividend and a yield of 2.3%.

Leggett & Platt has a payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Leggett & Platt to earn $1.24 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 16.1%.

Leggett & Platt Price Performance

NYSE LEG traded down $0.10 during trading on Thursday, hitting $8.64. 1,819,408 shares of the company's stock were exchanged, compared to its average volume of 2,544,926. The stock's 50 day moving average price is $9.49 and its two-hundred day moving average price is $9.07. The company has a market cap of $1.17 billion, a PE ratio of 8.38 and a beta of 0.70. The company has a current ratio of 2.17, a quick ratio of 1.36 and a debt-to-equity ratio of 2.09. Leggett & Platt has a fifty-two week low of $6.47 and a fifty-two week high of $14.23.

Leggett & Platt (NYSE:LEG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.01. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. Leggett & Platt had a net margin of 3.36% and a return on equity of 19.42%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.29 earnings per share. Research analysts expect that Leggett & Platt will post 1.14 EPS for the current year.

Institutional Trading of Leggett & Platt

A number of hedge funds have recently bought and sold shares of LEG. American Century Companies Inc. boosted its stake in shares of Leggett & Platt by 50.3% in the 4th quarter. American Century Companies Inc. now owns 138,972 shares of the company's stock valued at $1,334,000 after purchasing an additional 46,499 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Leggett & Platt during the fourth quarter valued at about $575,000. Invenomic Capital Management LP grew its stake in shares of Leggett & Platt by 64.6% during the fourth quarter. Invenomic Capital Management LP now owns 1,517,156 shares of the company's stock valued at $14,565,000 after buying an additional 595,684 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Leggett & Platt by 16.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 57,580 shares of the company's stock valued at $455,000 after acquiring an additional 8,260 shares during the last quarter. Finally, Trust Co. of Oklahoma purchased a new stake in Leggett & Platt during the 1st quarter valued at about $239,000. Institutional investors own 64.23% of the company's stock.

About Leggett & Platt

Leggett & Platt, Inc engages in the manufacture and distribution of furniture and engineered components and products among homes, offices, automobiles, and commercial aircraft. It operates through the following segments: Bedding Products, Specialized Products, and Furniture, Flooring & Textile Products.

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