Methode Electronics, Inc. (NYSE:MEI - Get Free Report) CEO Jonathan B. Degaynor bought 32,733 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average cost of $6.46 per share, with a total value of $211,455.18. Following the purchase, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at approximately $211,455.18. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link.
Methode Electronics Stock Performance
Shares of MEI opened at $6.30 on Thursday. Methode Electronics, Inc. has a 12 month low of $5.84 and a 12 month high of $17.45. The firm has a fifty day simple moving average of $10.78 and a 200 day simple moving average of $10.82. The stock has a market capitalization of $224.46 million, a price-to-earnings ratio of -2.49 and a beta of 0.77. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46.
Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter in the previous year, the company posted ($0.33) EPS. Research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.
Analyst Ratings Changes
Several equities research analysts have recently issued reports on the stock. Robert W. Baird lowered their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Tuesday, February 25th.
Get Our Latest Analysis on Methode Electronics
Institutional Trading of Methode Electronics
A number of large investors have recently added to or reduced their stakes in MEI. Quarry LP acquired a new stake in Methode Electronics in the fourth quarter valued at $32,000. Virtus Fund Advisers LLC acquired a new stake in Methode Electronics in the fourth quarter valued at $38,000. AlphaQuest LLC lifted its stake in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 2,990 shares during the last quarter. PharVision Advisers LLC acquired a new stake in Methode Electronics in the fourth quarter valued at $120,000. Finally, Diversified Trust Co acquired a new stake in Methode Electronics in the fourth quarter valued at $126,000. Institutional investors and hedge funds own 95.49% of the company's stock.
About Methode Electronics
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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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