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

by · The Markets Daily

Methode Electronics, Inc. (NYSE:MEI – Get Free Report) announced a quarterly dividend on Thursday, March 20th, RTT News reports. Stockholders 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 dividend yield of 8.26%.

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

Methode Electronics stock traded down $0.03 during midday trading on Thursday, hitting $6.78. The company’s stock had a trading volume of 349,297 shares, compared to its average volume of 494,922. Methode Electronics has a 12 month low of $5.84 and a 12 month high of $17.45. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $241.84 million, a PE ratio of -2.68 and a beta of 0.77. The stock’s 50-day moving average price is $10.25 and its 200-day moving average price is $10.69.

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

Insider Buying and Selling

In related news, CEO Jonathan B. Degaynor purchased 32,733 shares of Methode Electronics stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $6.46 per share, with a total value of $211,455.18. Following the completion of the transaction, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at $211,455.18. This trade represents a ∞ 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 this hyperlink. Also, SVP Lars Ullrich acquired 15,150 shares of the stock in a transaction that occurred on Friday, March 14th. The shares were bought at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the transaction, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at $101,353.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MEI shares. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, February 25th. Robert W. Baird decreased their price target 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.

Check Out Our Latest Research Report on Methode Electronics

Methode Electronics Company Profile

(Get Free Report)

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.

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