Methode Electronics, Inc. (MEI) to Issue Quarterly Dividend of $0.05 on May 1st

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, March 18th. Investors of record on Friday, April 17th will be paid a dividend of 0.05 per share by the electronics maker on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, April 17th.

Methode Electronics has raised its dividend by an average of 0.0%per year over the last three years. Methode Electronics has a payout ratio of 25.0% 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 should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 54.1%.

Methode Electronics Trading Down 0.1%

Methode Electronics stock opened at $5.29 on Friday. Methode Electronics has a 12-month low of $4.88 and a 12-month high of $10.77. The firm has a market capitalization of $187.57 million, a price-to-earnings ratio of -2.91 and a beta of 1.06. The firm has a 50 day moving average of $7.67 and a 200 day moving average of $7.39. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.50.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The firm had revenue of $233.70 million for the quarter, compared to analysts’ expectations of $219.44 million. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. As a group, research analysts predict that Methode Electronics will post -0.4 earnings per share for the current year.

Hedge Funds Weigh In On Methode Electronics

Hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in Methode Electronics by 1,027.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 2,815 shares in the last quarter. Smith Moore & CO. purchased a new stake in Methode Electronics in the 2nd quarter worth $95,000. XTX Topco Ltd purchased a new stake in Methode Electronics in the 2nd quarter worth $107,000. Brighton Jones LLC bought a new position in shares of Methode Electronics during the 3rd quarter valued at about $90,000. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Methode Electronics during the 2nd quarter valued at about $125,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.