Leggett & Platt, Incorporated (LEG) to Issue Quarterly Dividend of $0.05 on January 15th

Leggett & Platt, Incorporated (NYSE:LEG) declared a quarterly dividend on Thursday, November 6th. Investors of record on Monday, December 15th will be given a dividend of 0.05 per share on Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, December 15th.

Leggett & Platt has decreased its dividend payment by an average of 0.2%per year over the last three years. Leggett & Platt has a payout ratio of 16.3% indicating that 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 Stock Down 1.4%

Leggett & Platt stock traded down $0.17 during mid-day trading on Friday, reaching $11.58. The stock had a trading volume of 2,125,641 shares, compared to its average volume of 2,300,766. The company has a debt-to-equity ratio of 1.54, a quick ratio of 1.35 and a current ratio of 2.15. Leggett & Platt has a fifty-two week low of $6.47 and a fifty-two week high of $12.03. The stock’s 50-day simple moving average is $9.59 and its 200-day simple moving average is $9.47. The firm has a market capitalization of $1.57 billion, a PE ratio of 7.19 and a beta of 0.75.

Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.01). Leggett & Platt had a net margin of 5.38% and a return on equity of 16.27%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business posted $0.32 EPS. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. Leggett & Platt has set its FY 2025 guidance at 1.000-1.100 EPS. On average, sell-side analysts forecast that Leggett & Platt will post 1.14 EPS for the current fiscal year.

Institutional Trading of Leggett & Platt

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Bancorp USA Inc. bought a new position in Leggett & Platt in the 3rd quarter valued at $126,000. Advisory Services Network LLC purchased a new position in Leggett & Platt during the third quarter worth about $51,000. Palisade Asset Management LLC bought a new position in Leggett & Platt in the 3rd quarter worth about $29,000. Dark Forest Capital Management LP purchased a new stake in shares of Leggett & Platt in the 3rd quarter valued at about $1,714,000. Finally, XTX Topco Ltd boosted its position in shares of Leggett & Platt by 6.6% during the 3rd quarter. XTX Topco Ltd now owns 66,141 shares of the company’s stock valued at $587,000 after acquiring an additional 4,108 shares during the last quarter. 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.