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

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Thursday, March 20th, RTT News reports. Investors of record on Friday, April 18th will be given a dividend of 0.14 per share by the electronics maker on Friday, May 2nd. This represents a $0.56 dividend on an annualized basis and a yield of 8.35%. The ex-dividend date of this dividend is Thursday, April 17th.

Methode Electronics has increased its dividend by an average of 1.9% annually over the last three years. Methode Electronics has a payout ratio of 53.3% meaning 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 Trading Down 0.9 %

NYSE:MEI opened at $6.71 on Friday. The firm has a market cap of $239.49 million, a PE ratio of -2.65 and a beta of 0.77. The stock has a fifty day moving average price of $10.08 and a 200 day moving average price of $10.63. Methode Electronics has a 12-month low of $5.84 and a 12-month 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.

Methode Electronics (NYSE:MEI) last released its 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). The company had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter last year, the business posted ($0.33) earnings per share. Sell-side analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Insider Transactions at Methode Electronics

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

Analyst Ratings Changes

MEI has been the subject of a number of recent analyst reports. 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 report on Friday, March 7th. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a report 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.