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

Methode Electronics, Inc. (NYSE:MEI) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Shareholders of record on Friday, April 18th will be paid a dividend of 0.14 per share by the electronics maker on Wednesday, April 2nd. This represents a $0.56 annualized dividend and a yield of 8.26%.

Methode Electronics has raised its dividend by an average of 1.9% annually over the last three years. Methode Electronics has a payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. 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 0.5 %

MEI stock opened at $6.78 on Friday. Methode Electronics has a fifty-two week low of $5.84 and a fifty-two week high of $17.45. The company’s 50 day moving average price is $10.16 and its 200 day moving average price is $10.66. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The firm has a market capitalization of $241.84 million, a price-to-earnings ratio of -2.68 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the prior year, the business earned ($0.33) EPS. On average, equities research analysts anticipate that Methode Electronics will post -0.4 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jonathan B. Degaynor bought 32,733 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the purchase, the chief executive officer now owns 32,733 shares of the company’s stock, valued at $211,455.18. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Lars Ullrich acquired 15,150 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the transaction, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on MEI shares. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, February 25th. Robert W. Baird decreased their target price on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, March 7th.

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.