Methode Electronics (MEI) Declares $0.14 Dividend

Methode Electronics said on March 16, 2023 that its board of directors declared a regular quarterly dividend of $0.14 per share ($0.56 annualized). Previously, the company paid $0.14 per share.

Shares must be purchased before the ex-div date of April 13, 2023 to qualify for the dividend. Shareholders of record as of April 14, 2023 will receive the payment on April 28, 2023.

At the current share price of $40.92 / share, the stock's dividend yield is 1.37%. Looking back five years and taking a sample every week, the average dividend yield has been 1.32%, the lowest has been 0.89%, and the highest has been 2.06%. The standard deviation of yields is 0.22 (n=237).

The current dividend yield is 0.22 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.24. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 35.85% Upside

As of March 17, 2023, the average one-year price target for Methode Electronics is $55.59. The forecasts range from a low of $50.50 to a high of $61.95. The average price target represents an increase of 35.85% from its latest reported closing price of $40.92.

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The projected annual revenue for Methode Electronics is $1,197MM, an increase of 2.56%. The projected annual non-GAAP EPS is $2.79.

What is the Fund Sentiment?

There are 501 funds or institutions reporting positions in Methode Electronics. This is an increase of 8 owner(s) or 1.62% in the last quarter. Average portfolio weight of all funds dedicated to MEI is 0.17%, an increase of 4.13%. Total shares owned by institutions decreased in the last three months by 2.47% to 41,709K shares. The put/call ratio of MEI is 1.03, indicating a bearish outlook.

What are Large Shareholders Doing?

IJR - iShares Core S&P Small-Cap ETF holds 2,710K shares representing 7.53% ownership of the company. In it's prior filing, the firm reported owning 2,689K shares, representing an increase of 0.80%. The firm increased its portfolio allocation in MEI by 9.53% over the last quarter.

Earnest Partners holds 2,061K shares representing 5.73% ownership of the company. In it's prior filing, the firm reported owning 1,671K shares, representing an increase of 18.93%. The firm increased its portfolio allocation in MEI by 34.43% over the last quarter.

Massachusetts Financial Services holds 2,047K shares representing 5.69% ownership of the company. In it's prior filing, the firm reported owning 2,333K shares, representing a decrease of 13.99%. The firm decreased its portfolio allocation in MEI by 99.99% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,061K shares representing 2.95% ownership of the company. In it's prior filing, the firm reported owning 1,059K shares, representing an increase of 0.25%. The firm increased its portfolio allocation in MEI by 10.58% over the last quarter.

FLPSX - Fidelity Low-Priced Stock Fund holds 1,035K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 1,024K shares, representing an increase of 1.06%. The firm increased its portfolio allocation in MEI by 5.50% over the last quarter.

Methode Electronics Background Information
(This description is provided by the company.)

Methode Electronics, Inc. is a global developer of custom engineered and application specific products and solutions with manufacturing, design and testing facilities in Belgium, Canada, China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, the Netherlands, Singapore, Switzerland, the United Kingdom and the United States. The company designs, manufactures and markets devices employing electrical, electronic, LED lighting, sensor, and radio remote control technologies. Its business is managed on a segment basis, with those segments being Automotive, Industrial, Interface and Medical.

This story originally appeared on Fintel.