Methode Electronics (NYSE:MEI) Shares Pass Above 200-Day Moving Average – Here’s What Happened

Methode Electronics, Inc. (NYSE:MEI) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.01 and traded as high as $11.25. Methode Electronics shares last traded at $11.16, with a volume of 549,423 shares traded.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their target price on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th.

Methode Electronics Stock Down 2.4 %

The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average price is $11.24 and its two-hundred day moving average price is $11.01. The stock has a market cap of $389.73 million, a P/E ratio of -4.32 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.31. 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 business posted $0.06 EPS. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.12%. The ex-dividend date is Friday, January 17th. Methode Electronics’s dividend payout ratio (DPR) is currently -22.13%.

Institutional Investors Weigh In On Methode Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after purchasing an additional 949,616 shares during the last quarter. American Century Companies Inc. increased its holdings in Methode Electronics by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after buying an additional 76,391 shares during the period. Verition Fund Management LLC increased its holdings in Methode Electronics by 263.2% in the 3rd quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock worth $631,000 after buying an additional 38,259 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its stake in Methode Electronics by 5.9% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock valued at $13,440,000 after acquiring an additional 62,470 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in Methode Electronics by 58.8% during the 2nd quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock valued at $361,000 after acquiring an additional 13,014 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.