Leggett & Platt, Incorporated (LEG) To Go Ex-Dividend on March 13th

Leggett & Platt, Incorporated (NYSE:LEG) announced a quarterly dividend on Thursday, February 26th. Shareholders of record on Friday, March 13th will be paid a dividend of 0.05 per share on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Friday, March 13th.

Leggett & Platt has decreased its dividend payment by an average of 0.3%per year over the last three years. Leggett & Platt has a dividend payout ratio of 16.3% meaning its dividend is sufficiently covered by earnings. 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

LEG opened at $11.67 on Friday. The stock has a market cap of $1.58 billion, a P/E ratio of 6.91 and a beta of 0.72. Leggett & Platt has a 52-week low of $6.47 and a 52-week high of $13.00. The company has a quick ratio of 1.45, a current ratio of 2.25 and a debt-to-equity ratio of 1.46. The business has a fifty day moving average of $11.86 and a 200 day moving average of $10.39.

Leggett & Platt (NYSE:LEG) last announced its quarterly earnings data on Wednesday, February 11th. The company reported $0.22 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.22. The company had revenue of $938.60 million during the quarter, compared to analyst estimates of $938.74 million. Leggett & Platt had a net margin of 5.80% and a return on equity of 15.00%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. As a group, sell-side analysts anticipate that Leggett & Platt will post 1.14 EPS for the current year.

Institutional Trading of Leggett & Platt

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Leggett & Platt by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 18,990,042 shares of the company’s stock worth $208,890,000 after purchasing an additional 282,940 shares in the last quarter. Marshall Wace LLP raised its stake in Leggett & Platt by 35.8% in the second quarter. Marshall Wace LLP now owns 3,380,980 shares of the company’s stock valued at $30,158,000 after buying an additional 890,577 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Leggett & Platt by 47.8% in the second quarter. Geode Capital Management LLC now owns 3,175,556 shares of the company’s stock worth $28,330,000 after acquiring an additional 1,026,608 shares in the last quarter. Invenomic Capital Management LP grew its stake in shares of Leggett & Platt by 4.0% during the fourth quarter. Invenomic Capital Management LP now owns 2,437,519 shares of the company’s stock worth $26,813,000 after acquiring an additional 93,213 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Leggett & Platt by 4.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,123,623 shares of the company’s stock worth $23,360,000 after acquiring an additional 98,430 shares during the last quarter. Hedge funds and other institutional investors own 64.23% of the company’s stock.

About Leggett & Platt

Leggett & Platt, Inc is a diversified manufacturer specializing in the design, engineering and production of a wide range of engineered components and products. The company’s offerings span several end markets, including residential bedding, commercial and residential furniture, automotive seating and interiors, aerospace applications and industrial products. By integrating product design with proprietary manufacturing processes, Leggett & Platt serves as a key supplier to both original equipment manufacturers and aftermarket distributors.

The company’s core product lines include coil springs and support systems for mattresses and furniture, adjustable bed mechanisms, engineered components such as extruded and formed metal products, and specialty foam and bedding products.