Methode Electronics Inc. (NYSE:MEI) declared a quarterly dividend on Thursday, September 12th, Zacks reports. Investors of record on Friday, October 11th will be given a dividend of 0.11 per share by the electronics maker on Friday, October 25th. This represents a $0.44 annualized dividend and a yield of 1.39%. The ex-dividend date is Thursday, October 10th.

Methode Electronics has increased its dividend payment by an average of 6.9% per year over the last three years. Methode Electronics has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Methode Electronics to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.7%.

NYSE MEI opened at $31.60 on Wednesday. Methode Electronics has a one year low of $20.99 and a one year high of $37.42. The company’s 50 day moving average price is $32.55 and its 200 day moving average price is $29.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.88 and a current ratio of 2.55. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.68 and a beta of 1.48.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, August 29th. The electronics maker reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.07. Methode Electronics had a net margin of 9.19% and a return on equity of 16.39%. The firm had revenue of $270.20 million for the quarter, compared to analyst estimates of $268.15 million. During the same quarter last year, the firm posted $0.63 earnings per share. Methode Electronics’s revenue for the quarter was up 20.9% compared to the same quarter last year. Sell-side analysts forecast that Methode Electronics will post 3.35 EPS for the current fiscal year.

In other news, Director Bruce K. Crowther acquired 900 shares of the stock in a transaction on Wednesday, September 4th. The stock was bought at an average price of $31.58 per share, with a total value of $28,422.00. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $123,162. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.40% of the stock is owned by company insiders.

MEI has been the topic of several research reports. TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b” rating in a report on Wednesday, September 11th. ValuEngine upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Monday, August 26th. B. Riley set a $42.00 price target on shares of Methode Electronics and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.25.

Methode Electronics Company Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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Dividend History for Methode Electronics (NYSE:MEI)

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