David P. Blom Buys 9,320 Shares of Methode Electronics, Inc. (NYSE:MEI) Stock

Methode Electronics, Inc. (NYSE:MEI) Director David P. Blom acquired 9,320 shares of the stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the purchase, the director now directly owns 37,531 shares in the company, valued at $405,710.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Methode Electronics Trading Up 4.0 %

MEI traded up $0.44 during trading hours on Thursday, reaching $11.40. 477,160 shares of the company’s stock traded hands, compared to its average volume of 560,678. The firm has a 50-day moving average price of $11.28 and a 200 day moving average price of $11.63. The firm has a market capitalization of $403.45 million, a PE ratio of -3.27 and a beta of 0.72. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $26.02.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The company had revenue of $258.50 million during the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, sell-side analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current fiscal year.

Methode Electronics Announces Dividend

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 given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.91%. The ex-dividend date is Friday, October 18th. Methode Electronics’s dividend payout ratio (DPR) is presently -16.05%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on MEI shares. Robert W. Baird decreased their price target on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Institutional Trading of Methode Electronics

Large investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its holdings in shares of Methode Electronics by 512.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after buying an additional 1,014 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Methode Electronics by 749.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after acquiring an additional 5,023 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Methode Electronics in the second quarter valued at about $111,000. Quest Partners LLC lifted its stake in Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 1,758 shares during the period. Finally, SG Americas Securities LLC bought a new position in Methode Electronics during the 1st quarter worth about $136,000. 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.