Methode Electronics (NYSE:MEI) Shares Cross Above 200-Day Moving Average – Here’s Why

Methode Electronics, Inc. (NYSE:MEI) passed above its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analyst Upgrades and Downgrades

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

Methode Electronics Trading Down 1.6 %

The business has a fifty day moving average price of $11.24 and a 200 day moving average price of $11.01. The firm has a market cap of $397.93 million, a PE ratio of -4.41 and a beta of 0.78. 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) last released its quarterly earnings data 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 company earned $0.06 EPS. Analysts forecast that Methode Electronics, Inc. will post -0.4 EPS 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 issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.02%. Methode Electronics’s payout ratio is -22.13%.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds have recently modified their holdings of the stock. Diversified Trust Co acquired a new position in shares of Methode Electronics during the fourth quarter worth about $126,000. Barclays PLC boosted its holdings in Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock valued at $1,530,000 after purchasing an additional 67,656 shares in the last quarter. Geode Capital Management LLC increased its position in Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after purchasing an additional 20,487 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Methode Electronics by 150.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 39,635 shares of the electronics maker’s stock worth $474,000 after buying an additional 23,820 shares in the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Methode Electronics in the 3rd quarter valued at approximately $254,000. 95.49% of the stock is 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.