Methode Electronics (NYSE:MEI) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Methode Electronics, Inc. (NYSE:MEI)’s share price 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.

Analyst Ratings Changes

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

Methode Electronics Stock Down 1.6 %

The firm’s 50-day moving average is $11.24 and its two-hundred day moving average is $11.01. 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 stock has a market cap of $397.93 million, a P/E ratio of -4.41 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the prior year, the company earned $0.06 earnings per share. On average, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.02%. The ex-dividend date of this dividend is Friday, January 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -22.13%.

Hedge Funds Weigh In On Methode Electronics

Several large investors have recently bought and sold shares of the business. nVerses Capital LLC grew its holdings in Methode Electronics by 1,600.0% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock worth $41,000 after acquiring an additional 3,200 shares during the period. CWM LLC grew its stake in shares of Methode Electronics by 685.1% during the third quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock worth $104,000 after purchasing an additional 7,618 shares during the period. Quest Partners LLC increased its holdings in Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after purchasing an additional 1,758 shares during the last quarter. Diversified Trust Co acquired a new position in Methode Electronics in the fourth quarter valued at about $126,000. Finally, Pinnacle Associates Ltd. bought a new position in Methode Electronics during the third quarter worth about $132,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.