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

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 8.15%. The ex-dividend date of this dividend is Thursday, April 17th.

Methode Electronics has raised its dividend payment 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 Stock Performance

MEI stock traded up $0.20 during midday trading on Monday, hitting $6.88. The stock had a trading volume of 246,809 shares, compared to its average volume of 485,011. Methode Electronics has a 52 week low of $5.84 and a 52 week high of $17.45. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a 50-day simple moving average of $10.08 and a 200 day simple moving average of $10.64. The firm has a market capitalization of $245.38 million, a price-to-earnings ratio of -2.72 and a beta of 0.77.

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

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Analysts Set New Price Targets

Several equities analysts recently commented on the company. Robert W. Baird cut 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. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

Insider Transactions at Methode Electronics

In other news, CEO Jonathan B. Degaynor purchased 32,733 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $6.46 per share, with a total value of $211,455.18. Following the completion of the purchase, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at $211,455.18. The trade was a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lars Ullrich purchased 15,150 shares of the firm'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 acquisition, the senior vice president now owns 15,150 shares of the company's stock, 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. 1.40% of the stock is owned by company insiders.

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.