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. 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 dividend on an annualized basis and a dividend 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 dividend payout ratio of 53.3% indicating that its dividend is sufficiently covered by earnings. Equities 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 traded down $0.03 during trading hours on Thursday, hitting $6.78. 349,297 shares of the stock were exchanged, compared to its average volume of 494,922. The stock has a market cap of $241.84 million, a price-to-earnings ratio of -2.68 and a beta of 0.77. The stock has a 50-day simple moving average of $10.25 and a 200-day simple moving average of $10.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. Methode Electronics has a 12 month low of $5.84 and a 12 month high of $17.45.

Methode Electronics (NYSE:MEI) last posted 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). 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 business posted ($0.33) earnings per share. Analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, SVP Lars Ullrich purchased 15,150 shares of Methode Electronics stock in a transaction on Friday, March 14th. The stock was bought at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jonathan B. Degaynor purchased 32,733 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the acquisition, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently commented on MEI. Robert W. Baird lowered their target price on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Sidoti upgraded 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.

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.