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

Methode Electronics, Inc. (NYSE:MEI) announced a quarterly dividend on Friday, December 13th,Wall Street Journal reports. Stockholders of record on Friday, January 17th will be paid a dividend of 0.14 per share by the electronics maker on Friday, January 31st. This represents a $0.56 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, January 17th.

Methode Electronics has increased its dividend by an average of 8.4% per year over the last three years. Methode Electronics has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities 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 $0.05 during midday trading on Friday, reaching $13.07. The company had a trading volume of 388,996 shares, compared to its average volume of 533,846. 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 has a 12-month low of $8.54 and a 12-month high of $23.41. The firm’s fifty day simple moving average is $10.54 and its 200-day simple moving average is $10.83.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the firm earned $0.06 EPS. On average, analysts anticipate that Methode Electronics will post -0.4 EPS for the current year.

Insider Transactions at Methode Electronics

In related news, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now owns 37,531 shares of the company’s stock, valued at approximately $405,710.11. The trade was a 33.04 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was purchased at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the transaction, the director now owns 25,970 shares of the company’s stock, valued at $295,538.60. This trade represents a 51.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

MEI has been the topic of several research reports. Robert W. Baird raised their price target on shares of Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

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.