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. Its products include integrated center consoles, hidden switches, ergonomic switches, transmission lead-frames, and LED-based lighting and sensors, which incorporate magneto-elastic sensing and other technologies that monitor the operation or status of a component or system. The Industrial segment manufactures lighting solutions; industrial safety radio remote controls; braided flexible cables; current-carrying laminated busbars and devices; custom power-product assemblies, such as PowerRail solution; high-current low-voltage flexible power cabling systems; and powder-coated busbars that are used in various markets and applications comprising aerospace, cloud computing, commercial vehicles, industrial, military, power conversion, and transportation. The Interface segment provides various copper-based transceivers and related accessories for the cloud computing hardware equipment and telecommunications broadband equipment markets; user interface solutions for the appliance, commercial food service, and point-of-sale equipment markets; and fluid-level sensors for the marine/recreational vehicle and sump pump markets. The Medical segment offers Dabir Surfaces, a surface support technology aimed at pressure injury prevention for use by patients who are immobilized or otherwise at risk for pressure injuries, including patients undergoing long-duration surgical procedures. Methode Electronics, Inc. was incorporated in 1946 and is headquartered in Chicago, Illinois.
Methode Electronics Stock Up 1.8 %
Shares of MEI traded up $0.75 on Friday, hitting $42.91. 143,568 shares of the stock traded hands, compared to its average volume of 139,340. The company has a market capitalization of $1.64 billion, a PE ratio of 15.95 and a beta of 1.15. Methode Electronics has a one year low of $33.91 and a one year high of $49.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.49 and a current ratio of 3.34. The business has a 50 day simple moving average of $39.15 and a 200 day simple moving average of $42.40.
Methode Electronics (NYSE:MEI - Get Rating) last posted its quarterly earnings results on Thursday, June 23rd. The electronics maker reported $0.43 earnings per share for the quarter, hitting the consensus estimate of $0.43. Methode Electronics had a return on equity of 11.15% and a net margin of 8.78%. The firm had revenue of $288.70 million during the quarter, compared to analysts' expectations of $289.10 million. As a group, equities analysts forecast that Methode Electronics will post 2.88 earnings per share for the current fiscal year.
Methode Electronics Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, July 14th. This represents a $0.56 annualized dividend and a dividend yield of 1.31%. Methode Electronics's payout ratio is 20.82%.
Wall Street Analyst Weigh In
Several equities research analysts have commented on MEI shares. StockNews.com downgraded Methode Electronics from a "buy" rating to a "hold" rating in a report on Wednesday, June 15th. Robert W. Baird dropped their price target on shares of Methode Electronics from $46.00 to $42.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 15th.
Insider Activity at Methode Electronics
In other Methode Electronics news, COO Joseph Elias Khoury sold 8,000 shares of Methode Electronics stock in a transaction that occurred on Tuesday, June 28th. The shares were sold at an average price of $38.55, for a total value of $308,400.00. Following the completion of the sale, the chief operating officer now owns 396,420 shares of the company's stock, valued at approximately $15,281,991. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 4.50% of the stock is owned by insiders.