Methode Electronics, Inc. (MEI) To Go Ex-Dividend on October 16th

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, September 16th. Stockholders of record on Friday, October 16th will be given a dividend of $0.05 per share by the electronics maker on Friday, October 30th. This represents a $0.20 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, October 16th.

Methode Electronics has decreased its dividend payment by an average of 0.1% per year over the last three years. Methode Electronics has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Methode Electronics to earn ($0.16) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -125.0%.

Methode Electronics Stock Performance

NYSE MEI opened at $15.18 on Wednesday. The company’s 50 day moving average is $15.39 and its 200-day moving average is $12.91. Methode Electronics has a 12-month low of $4.88 and a 12-month high of $20.38. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. The firm has a market cap of $541.02 million, a P/E ratio of -14.59 and a beta of 1.57.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The company had revenue of $265.40 million for the quarter, compared to analysts’ expectations of $238.31 million. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. Sell-side analysts predict that Methode Electronics will post -0.81 earnings per share for the current year.

Hedge Funds Weigh In On Methode Electronics

Several hedge funds have recently bought and sold shares of the company. Allworth Financial LP purchased a new position in shares of Methode Electronics during the 2nd quarter valued at $40,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Methode Electronics in the second quarter worth $64,000. Legal & General Group Plc purchased a new stake in shares of Methode Electronics in the second quarter worth $65,000. Quantbot Technologies LP purchased a new stake in shares of Methode Electronics in the second quarter worth $212,000. Finally, GSA Capital Partners LLP bought a new stake in Methode Electronics during the second quarter valued at $226,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc is a global designer and manufacturer of custom-engineered electrical and electronic products. The company develops solutions that connect, control, sense and illuminate systems for original equipment manufacturers and other industrial customers.

Its products include sensors, switches and other user-interface components; LED lighting systems; power distribution and management products; flexible circuits and interconnect technologies; and electronic and electromechanical assemblies.