Leggett & Platt Inc. Plans Quarterly Dividend of $0.30 (LEG)
Leggett & Platt (NYSE:LEG) announced a quarterly dividend on Wednesday, February 26th, AnalystRatings.Net reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.30 per share on Tuesday, April 15th. This represents a $1.20 annualized dividend and a dividend yield of 3.84%.
LEG has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Leggett & Platt in a research note on Thursday, February 6th. They now have a $31.00 price target on the stock. On a related note, analysts at Monness Crespi & Hardt upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note on Tuesday, January 21st. They now have a $35.00 price target on the stock. Finally, analysts at Ned Davis Research upgraded shares of Leggett & Platt from a “neutral” rating to a “buy” rating in a research note on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Leggett & Platt currently has an average rating of “Hold” and a consensus target price of $32.67.
Shares of Leggett & Platt (NYSE:LEG) traded up 2.24% on Wednesday, hitting $31.94. 430,624 shares of the company’s stock traded hands. Leggett & Platt has a 52-week low of $28.00 and a 52-week high of $34.28. The stock has a 50-day moving average of $30.29 and a 200-day moving average of $30.00. The company has a market cap of $4.452 billion and a price-to-earnings ratio of 23.37.
Leggett & Platt (NYSE:LEG) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.34 by $0.01. The company had revenue of $896.80 million for the quarter, compared to the consensus estimate of $899.78 million. During the same quarter in the prior year, the company posted $0.32 earnings per share. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Leggett & Platt will post $1.73 EPS for the current fiscal year.
In other Leggett & Platt news, SVP Dennis Park sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $31.09, for a total value of $310,900.00. Following the transaction, the senior vice president now directly owns 219,545 shares in the company, valued at approximately $6,825,654. The sale was disclosed in a document filed with the SEC, which is available at this link.
Leggett & Platt, Incorporated is an international manufacturer that conceives, designs and produces a range of engineered components and products found in many homes, offices, retail stores, automobiles and commercial aircraft.
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