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

Methode Electronics, Inc. (NYSE:MEI) announced a quarterly dividend on Wednesday, March 18th. Shareholders of record on Friday, April 17th will be given a dividend of 0.05 per share by the electronics maker on Friday, May 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Friday, April 17th.

Methode Electronics has raised its dividend by an average of 0.0%annually over the last three years. Methode Electronics has a payout ratio of 25.0% meaning its dividend is sufficiently covered by earnings. Research 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 1.4%

Shares of NYSE:MEI opened at $5.32 on Thursday. The company has a fifty day moving average of $7.71 and a 200-day moving average of $7.40. The company has a market capitalization of $188.31 million, a PE ratio of -2.92 and a beta of 1.06. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.55 and a current ratio of 2.41. Methode Electronics has a 52-week low of $5.03 and a 52-week high of $10.77.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The firm had revenue of $233.70 million for the quarter, compared to analyst estimates of $219.44 million. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. On average, equities analysts predict that Methode Electronics will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its stake in shares of Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after buying an additional 2,815 shares during the period. Brighton Jones LLC acquired a new position in shares of Methode Electronics in the third quarter worth approximately $90,000. Smith Moore & CO. acquired a new position in shares of Methode Electronics in the second quarter worth approximately $95,000. Mackenzie Financial Corp bought a new stake in Methode Electronics in the third quarter valued at approximately $103,000. Finally, XTX Topco Ltd bought a new stake in Methode Electronics in the second quarter valued at approximately $107,000. 95.49% of the stock is owned by institutional investors and hedge funds.

About Methode Electronics

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.