Methode Electronics, Inc. (NYSE:MEI) Announces Quarterly Dividend of $0.14

Methode Electronics, Inc. (NYSE:MEI – Get Rating) declared a quarterly dividend on Thursday, March 16th, Zacks reports. Investors of record on Friday, April 14th will be given a dividend of 0.14 per share by the electronics maker on Friday, April 28th. This represents a $0.56 annualized dividend and a yield of 1.37%. The ex-dividend date is Thursday, April 13th.

Methode Electronics has increased its dividend by an average of 8.4% annually over the last three years. Methode Electronics has a payout ratio of 21.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Methode Electronics to earn $2.55 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 22.0%.

Methode Electronics Price Performance

Methode Electronics stock opened at $40.92 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.51 and a quick ratio of 2.60. The firm has a market capitalization of $1.48 billion, a P/E ratio of 17.79 and a beta of 1.14. The business has a fifty day moving average price of $47.44 and a 200-day moving average price of $43.73. Methode Electronics has a one year low of $33.91 and a one year high of $51.38.

Wall Street Analysts Forecast Growth

MEI has been the subject of several research reports. StockNews.com began coverage on shares of Methode Electronics in a research report on Thursday. They set a “buy” rating on the stock. Jefferies Financial Group initiated coverage on Methode Electronics in a report on Tuesday, November 22nd. They issued a “buy” rating and a $52.00 price objective for the company. Finally, Robert W. Baird dropped their target price on Methode Electronics from $52.00 to $49.00 in a research report on Monday, March 13th.

Hedge Funds Weigh In On Methode Electronics

A number of institutional investors have recently bought and sold shares of MEI. GHP Investment Advisors Inc. increased its position in Methode Electronics by 57.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 51,055 shares of the electronics maker’s stock worth $2,265,000 after buying an additional 18,624 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in Methode Electronics during the fourth quarter valued at approximately $53,000. State of Tennessee Treasury Department increased its stake in shares of Methode Electronics by 8.0% in the fourth quarter. State of Tennessee Treasury Department now owns 23,206 shares of the electronics maker’s stock worth $1,030,000 after purchasing an additional 1,726 shares in the last quarter. Squarepoint Ops LLC raised its position in shares of Methode Electronics by 372.1% during the 4th quarter. Squarepoint Ops LLC now owns 27,664 shares of the electronics maker’s stock valued at $1,227,000 after purchasing an additional 21,804 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of Methode Electronics by 2.0% during the 4th quarter. Legal & General Group Plc now owns 107,265 shares of the electronics maker’s stock valued at $4,759,000 after buying an additional 2,054 shares in the last quarter. 95.93% of the stock is owned by institutional investors.

About Methode Electronics

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Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.