Methode Electronics, Inc. (NYSE:MEI) Announces $0.07 Quarterly Dividend

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) declared a quarterly dividend on Wednesday, July 9th, RTT News reports. Stockholders of record on Monday, July 21st will be paid a dividend of 0.07 per share by the electronics maker on Friday, August 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Monday, July 21st.

Methode Electronics has a dividend payout ratio of 70.0% 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 may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 151.4%.

Methode Electronics Stock Performance

Shares of MEI stock traded down $0.77 during midday trading on Friday, hitting $6.93. 1,349,926 shares of the company were exchanged, compared to its average volume of 412,749. The firm has a market capitalization of $247.34 million, a P/E ratio of -3.89 and a beta of 1.01. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.75 and a current ratio of 2.40. The firm's 50 day moving average price is $8.39 and its two-hundred day moving average price is $8.77. Methode Electronics has a 52 week low of $5.08 and a 52 week high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Wednesday, July 9th. The electronics maker reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.80). The company had revenue of $257,100 billion for the quarter, compared to the consensus estimate of $228.75 million. Methode Electronics had a negative return on equity of 5.60% and a negative net margin of 5.97%. During the same period in the previous year, the firm posted ($0.23) EPS. As a group, equities research analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

Institutional Trading of Methode Electronics

An institutional investor recently raised its position in Methode Electronics stock. Empowered Funds LLC raised its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 127,268 shares of the electronics maker's stock after purchasing an additional 9,787 shares during the period. Empowered Funds LLC owned approximately 0.36% of Methode Electronics worth $812,000 at the end of the most recent quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird cut their price objective on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th.

Methode Electronics Company Profile

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.