Methode Electronics, Inc. (MEI) To Go Ex-Dividend on July 17th

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Wednesday, June 10th. Investors of record on Friday, July 17th will be given a dividend of 0.05 per share by the electronics maker on Friday, July 31st. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, July 17th.

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% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Methode Electronics to earn ($0.18) 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 -111.1%.

Methode Electronics Trading Up 10.4%

NYSE:MEI opened at $17.46 on Wednesday. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38. The firm has a 50 day moving average of $13.03 and a 200 day moving average of $9.29. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $619.38 million, a price-to-earnings ratio of -17.29 and a beta of 1.47.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million during the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. As a group, sell-side analysts anticipate that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Methode Electronics

Several hedge funds and other institutional investors have recently modified their holdings of MEI. EverSource Wealth Advisors LLC grew its stake in Methode Electronics by 1,027.4% during the 2nd 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. XTX Topco Ltd purchased a new stake in shares of Methode Electronics in the second quarter valued at approximately $107,000. Mackenzie Financial Corp purchased a new stake in shares of Methode Electronics in the third quarter valued at approximately $103,000. Inscription Capital LLC acquired a new stake in shares of Methode Electronics in the fourth quarter valued at approximately $112,000. Finally, State of Wyoming purchased a new position in Methode Electronics during the first quarter worth approximately $93,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Company Profile

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.