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

Methode Electronics, Inc. (NYSE:MEI) 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) 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.

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.