Insider Buying: Methode Electronics, Inc. (NYSE:MEI) CEO Purchases 32,733 Shares of Stock

Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor acquired 32,733 shares of Methode Electronics stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $6.46 per share, with a total value of $211,455.18. Following the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Methode Electronics Trading Up 3.9 %

Shares of NYSE:MEI traded up $0.25 during mid-day trading on Wednesday, hitting $6.66. The stock had a trading volume of 155,198 shares, compared to its average volume of 397,895. The company’s 50 day moving average is $10.89 and its 200-day moving average is $10.85. Methode Electronics, Inc. has a 12-month low of $5.84 and a 12-month high of $17.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The company has a market cap of $237.48 million, a PE ratio of -2.64 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter in the previous year, the company earned ($0.33) EPS. On average, sell-side analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 8.41%. Methode Electronics’s payout ratio is presently -21.46%.

Hedge Funds Weigh In On Methode Electronics

A number of large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new position in Methode Electronics during the third quarter valued at approximately $1,466,000. Versor Investments LP grew its holdings in shares of Methode Electronics by 16.9% during the 3rd quarter. Versor Investments LP now owns 38,100 shares of the electronics maker’s stock valued at $456,000 after acquiring an additional 5,500 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Methode Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 111,804 shares of the electronics maker’s stock worth $1,337,000 after acquiring an additional 5,628 shares during the last quarter. Aviance Capital Partners LLC boosted its position in Methode Electronics by 92.1% during the third quarter. Aviance Capital Partners LLC now owns 53,813 shares of the electronics maker’s stock valued at $644,000 after purchasing an additional 25,802 shares during the last quarter. Finally, Howe & Rusling Inc. purchased a new position in Methode Electronics in the third quarter valued at about $325,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Robert W. Baird reduced their target price on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research note on Tuesday, February 25th.

About Methode Electronics

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.