Methode Electronics, Inc. (NYSE:MEI - Get Free Report) Director David P. Blom bought 9,320 shares of the firm's stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average price of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now owns 37,531 shares in the company, valued at $405,710.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Methode Electronics Stock Up 4.0 %
Shares of MEI stock opened at $11.40 on Friday. The stock has a market cap of $403.45 million, a P/E ratio of -3.27 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The stock has a fifty day moving average price of $11.28 and a 200 day moving average price of $11.63. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $26.02.
Methode Electronics (NYSE:MEI - Get Free Report) last issued its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The business had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. During the same quarter last year, the firm posted $0.06 earnings per share. Analysts predict that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.
Methode Electronics Dividend Announcement
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The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.14 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.91%. Methode Electronics's payout ratio is presently -16.05%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Robert W. Baird cut their price target on Methode Electronics from $15.00 to $13.00 and set a "neutral" rating for the company in a report on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a research note on Friday, September 6th.
Get Our Latest Research Report on Methode Electronics
Hedge Funds Weigh In On Methode Electronics
Several hedge funds and other institutional investors have recently modified their holdings of MEI. Vanguard Group Inc. grew its position in Methode Electronics by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker's stock valued at $56,998,000 after acquiring an additional 30,994 shares during the period. Federated Hermes Inc. grew its holdings in shares of Methode Electronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker's stock worth $17,501,000 after purchasing an additional 949,616 shares during the last quarter. Millennium Management LLC increased its position in shares of Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker's stock worth $6,707,000 after purchasing an additional 321,832 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Methode Electronics by 13.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,904 shares of the electronics maker's stock valued at $12,613,000 after purchasing an additional 64,055 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in Methode Electronics by 29.5% in the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker's stock valued at $3,469,000 after buying an additional 76,391 shares in the last quarter. Institutional investors own 95.49% of the company's stock.
Methode Electronics Company Profile
(
Get Free Report)
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.
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