Methode Electronics, Inc. (NYSE:MEI) to Issue Quarterly Dividend of $0.14

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, September 11th, Wall Street Journal reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.14 per share by the electronics maker on Friday, November 1st. This represents a $0.56 annualized dividend and a yield of 4.98%. The ex-dividend date of this dividend is Friday, October 18th.

Methode Electronics has increased its dividend by an average of 8.4% annually over the last three years. Methode Electronics has a dividend payout ratio of 91.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Methode Electronics to earn $0.37 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 151.4%.

Methode Electronics Price Performance

Shares of MEI opened at $11.24 on Thursday. The business has a 50-day moving average of $10.67 and a 200-day moving average of $11.27. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The company has a market capitalization of $397.78 million, a price-to-earnings ratio of -3.22 and a beta of 0.72. Methode Electronics has a 1 year low of $8.54 and a 1 year high of $25.78.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The firm had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same period last year, the company posted $0.06 EPS. As a group, equities research analysts anticipate that Methode Electronics will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Mary A. Lindsey acquired 8,800 shares of Methode Electronics stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the acquisition, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Blom purchased 9,320 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

MEI has been the topic of a number of research analyst reports. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird cut their target price on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.