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

Methode Electronics, Inc. (NYSE:MEI) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be paid a dividend of 0.14 per share by the electronics maker on Friday, January 31st. This represents a $0.56 dividend on an annualized basis and a yield of 4.28%. The ex-dividend date of this dividend is Friday, January 17th.

Methode Electronics has raised its dividend by an average of 8.4% per year over the last three years. Methode Electronics has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. 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 Stock Down 0.4 %

Methode Electronics stock traded down $0.05 during midday trading on Friday, reaching $13.07. 388,996 shares of the stock traded hands, compared to its average volume of 533,846. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. Methode Electronics has a 12 month low of $8.54 and a 12 month high of $23.41. The stock’s fifty day moving average is $10.54 and its 200-day moving average is $10.83.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter last year, the company earned $0.06 earnings per share. As a group, analysts predict that Methode Electronics will post -0.4 EPS for the current fiscal year.

Analyst Ratings Changes

MEI has been the subject of several research analyst reports. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Robert W. Baird lifted their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 6th.

Insider Activity at Methode Electronics

In other news, Director David P. Blom purchased 9,320 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $10.81 per share, for a total transaction of $100,749.20. Following the purchase, the director now owns 37,531 shares in the company, valued at $405,710.11. This trade represents a 33.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary A. Lindsey acquired 8,800 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were acquired 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 in the company, valued at approximately $295,538.60. This trade represents a 51.25 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

About Methode Electronics

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.