Methode Electronics (NYSE:MEI) Upgraded at Sidoti

Sidoti upgraded shares of Methode Electronics (NYSE:MEI) from a neutral rating to a buy rating in a research note released on Tuesday, MarketBeat.com reports. They currently have $14.00 target price on the electronics maker’s stock.

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

Methode Electronics Stock Performance

NYSE:MEI opened at $10.75 on Tuesday. The company has a 50-day moving average of $11.48 and a 200-day moving average of $10.97. The firm has a market cap of $383.13 million, a price-to-earnings ratio of -4.25 and a beta of 0.76. 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 has a twelve month low of $8.54 and a twelve month high of $21.86.

Methode Electronics (NYSE:MEI) last issued 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 net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter in the previous year, the business earned $0.06 earnings per share. Analysts forecast that Methode Electronics will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a dividend of $0.14 per share. The ex-dividend date was Friday, January 17th. This represents a $0.56 annualized dividend and a yield of 5.21%. Methode Electronics’s dividend payout ratio (DPR) is presently -22.13%.

Institutional Trading of Methode Electronics

A number of hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC acquired a new position in shares of Methode Electronics in the fourth quarter worth $120,000. Virtus Fund Advisers LLC acquired a new position in Methode Electronics during the fourth quarter valued at approximately $38,000. Virtus Investment Advisers Inc. bought a new position in Methode Electronics in the 4th quarter worth $189,000. Two Sigma Advisers LP increased its stake in shares of Methode Electronics by 15.8% in the fourth quarter. Two Sigma Advisers LP now owns 238,700 shares of the electronics maker’s stock worth $2,814,000 after purchasing an additional 32,500 shares during the period. Finally, Two Sigma Investments LP boosted its stake in Methode Electronics by 11.5% during the 4th quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker’s stock valued at $4,565,000 after purchasing an additional 39,894 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

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.