Methode Electronics, Inc. Announces Quarterly Dividend of $0.05 (NYSE:MEI)

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, December 17th. Shareholders of record on Friday, January 16th will be paid a dividend of 0.05 per share by the electronics maker on Friday, January 30th. This represents a c) annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Friday, January 16th.

Methode Electronics has raised its dividend payment by an average of 0.0%annually over the last three years. Methode Electronics has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 Stock Up 2.3%

Shares of NYSE:MEI traded up $0.15 during trading on Thursday, reaching $6.81. 20,932 shares of the stock were exchanged, compared to its average volume of 380,575. Methode Electronics has a 1-year low of $5.08 and a 1-year high of $13.31. The stock has a fifty day moving average of $7.07 and a two-hundred day moving average of $7.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.55 and a quick ratio of 1.68. The firm has a market cap of $241.14 million, a price-to-earnings ratio of -3.83 and a beta of 1.08.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.10%. The firm had revenue of $246.90 million for the quarter, compared to the consensus estimate of $237.69 million. Research analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Institutional Trading of Methode Electronics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Methode Electronics by 4.5% in the third quarter. Vanguard Group Inc. now owns 3,169,009 shares of the electronics maker’s stock worth $23,926,000 after buying an additional 136,842 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in Methode Electronics by 29.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,553,250 shares of the electronics maker’s stock worth $9,910,000 after acquiring an additional 349,890 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Methode Electronics by 0.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,266,980 shares of the electronics maker’s stock worth $9,566,000 after acquiring an additional 8,869 shares during the last quarter. AQR Capital Management LLC raised its position in shares of Methode Electronics by 29.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock worth $11,505,000 after purchasing an additional 276,923 shares during the last quarter. Finally, Towle & Co. boosted its stake in Methode Electronics by 8.1% in the 3rd quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock worth $7,801,000 after purchasing an additional 77,302 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.