Leggett & Platt, Inc. (NYSE:LEG) announced a quarterly dividend on Tuesday, November 6th, RTT News reports. Investors of record on Friday, December 14th will be paid a dividend of 0.38 per share on Tuesday, January 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date is Thursday, December 13th.

Leggett & Platt has raised its dividend payment by an average of 5.0% per year over the last three years and has increased its dividend annually for the last 46 consecutive years. Leggett & Platt has a payout ratio of 58.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Leggett & Platt to earn $2.67 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 56.9%.

Shares of NYSE LEG opened at $38.38 on Friday. The stock has a market capitalization of $5.10 billion, a P/E ratio of 15.89, a PEG ratio of 1.67 and a beta of 1.07. The company has a quick ratio of 1.32, a current ratio of 2.12 and a debt-to-equity ratio of 1.16. Leggett & Platt has a 52-week low of $34.07 and a 52-week high of $49.88.

Leggett & Platt (NYSE:LEG) last announced its earnings results on Thursday, October 25th. The company reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.05). The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.10 billion. Leggett & Platt had a net margin of 6.87% and a return on equity of 28.37%. As a group, research analysts forecast that Leggett & Platt will post 2.44 earnings per share for the current fiscal year.

A number of analysts recently issued reports on LEG shares. Zacks Investment Research reissued a “sell” rating on shares of Leggett & Platt in a research report on Tuesday, November 13th. TheStreet cut Leggett & Platt from a “b-” rating to a “c+” rating in a research report on Friday, October 26th. SunTrust Banks decreased their target price on Leggett & Platt to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, October 30th. ValuEngine raised Leggett & Platt from a “sell” rating to a “hold” rating in a research report on Wednesday, August 22nd. Finally, Raymond James cut Leggett & Platt from a “strong-buy” rating to an “outperform” rating and set a $44.00 target price for the company. in a research report on Monday, October 29th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Leggett & Platt currently has a consensus rating of “Hold” and an average price target of $46.17.

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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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