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

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, September 11th, Wall Street Journal reports. Stockholders of record on Friday, October 18th will be given a dividend of 0.14 per share by the electronics maker on Friday, November 1st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Friday, October 18th.

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 84.8% indicating that 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 Stock Down 1.1 %

MEI opened at $11.00 on Wednesday. The company has a fifty day moving average price of $10.65 and a 200-day moving average price of $11.28. The firm has a market capitalization of $389.11 million, a P/E ratio of -3.15 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. Methode Electronics has a one year low of $8.54 and a one year high of $26.02.

Methode Electronics (NYSE:MEI) last released 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). The firm had revenue of $258.50 million for the quarter, compared to analysts’ expectations of $267.66 million. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same quarter last year, the firm earned $0.06 earnings per share. Equities research analysts expect that Methode Electronics will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MEI. Robert W. Baird cut their target price on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

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.