Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Thursday, August 3rd, RTT News reports. Stockholders of record on Friday, September 15th will be paid a dividend of 0.36 per share on Friday, October 13th. This represents a $1.44 annualized dividend and a dividend yield of 3.16%. The ex-dividend date of this dividend is Thursday, September 14th.
Leggett & Platt, has increased its dividend by an average of 14.5% annually over the last three years and has raised its dividend every year for the last 45 years. Leggett & Platt, has a payout ratio of 59.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Leggett & Platt, to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.0%.
Shares of Leggett & Platt, (LEG) opened at 45.59 on Wednesday. The firm has a market cap of $6.03 billion, a P/E ratio of 18.09 and a beta of 1.00. The stock has a 50 day moving average of $47.35 and a 200 day moving average of $50.54. Leggett & Platt, has a 52 week low of $43.17 and a 52 week high of $54.97.
Leggett & Platt, (NYSE:LEG) last posted its quarterly earnings data on Thursday, July 27th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The firm had revenue of $989.30 million for the quarter, compared to the consensus estimate of $1 billion. Leggett & Platt, had a return on equity of 31.02% and a net margin of 9.17%. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 EPS. Equities analysts forecast that Leggett & Platt, will post $2.45 earnings per share for the current year.
In other news, insider Matthew C. Flanigan sold 19,589 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $49.58, for a total transaction of $971,222.62. Following the sale, the insider now directly owns 159,522 shares of the company’s stock, valued at approximately $7,909,100.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.78% of the company’s stock.
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Several research analysts have weighed in on the company. BidaskClub cut Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Sunday, August 6th. Piper Jaffray Companies set a $59.00 price objective on Leggett & Platt, and gave the stock a “buy” rating in a research report on Monday, August 14th. Stifel Nicolaus reiterated a “hold” rating on shares of Leggett & Platt, in a research report on Thursday, September 7th. Zacks Investment Research cut Leggett & Platt, from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Gabelli began coverage on Leggett & Platt, in a research report on Wednesday, June 21st. They set a “hold” rating and a $53.00 price objective on the stock. Two analysts have rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and two have issued a strong buy rating to the company. Leggett & Platt, has an average rating of “Hold” and an average price target of $55.63.
Leggett & Platt, Company Profile
Leggett & Platt, Incorporated is a manufacturer that conceives, designs and produces a range of engineered components and products found in homes, offices and automobiles. The Company operates in four segments: Residential Furnishings, Commercial Products, Industrial Materials and Specialized Products.
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