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

Methode Electronics, Inc. (NYSE:MEI)’s stock price crossed 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 trading hands.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 6th.

Methode Electronics Price Performance

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

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $0.06 EPS. Equities research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 5.02%. Methode Electronics’s dividend payout ratio is currently -22.13%.

Institutional Trading of Methode Electronics

A number of institutional investors have recently made changes to their positions in MEI. Acadian Asset Management LLC acquired a new stake in Methode Electronics in the 2nd quarter valued at about $149,000. Quest Partners LLC raised its stake in Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock worth $125,000 after purchasing an additional 1,758 shares during the period. American Century Companies Inc. grew its stake in shares of Methode Electronics by 29.5% in the 2nd 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 during the period. Federated Hermes Inc. increased its holdings in shares of Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after buying an additional 949,616 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Methode Electronics by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 155,508 shares of the electronics maker’s stock valued at $1,610,000 after buying an additional 5,220 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Company Profile

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.