Methode Electronics Inc. (NYSE:MEI) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Shareholders of record on Friday, October 11th will be given a dividend of 0.11 per share by the electronics maker on Friday, October 25th. This represents a $0.44 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, October 10th.
Methode Electronics has increased its dividend by an average of 6.9% per year over the last three years. Methode Electronics has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Methode Electronics to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.7%.
NYSE MEI opened at $31.82 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 1.88. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.75 and a beta of 1.48. The company’s fifty day moving average is $32.44 and its two-hundred day moving average is $29.18. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $37.42.
Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b” rating in a research report on Wednesday, September 11th. ValuEngine upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. Finally, B. Riley set a $42.00 target price on shares of Methode Electronics and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.25.
In other Methode Electronics news, Director Bruce K. Crowther bought 900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $31.58 per share, for a total transaction of $28,422.00. Following the transaction, the director now owns 3,900 shares in the company, valued at $123,162. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by insiders.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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