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

Methode Electronics, Inc. (NYSE:MEI) Director David P. Blom purchased 9,320 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the transaction, the director now directly owns 37,531 shares of the company’s stock, valued at approximately $405,710.11. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Methode Electronics Price Performance

MEI opened at $11.40 on Friday. The stock has a fifty day moving average price of $11.28 and a 200 day moving average price of $11.63. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $26.02. The stock has a market cap of $403.45 million, a price-to-earnings ratio of -3.27 and a beta of 0.72.

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

Methode Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.91%. Methode Electronics’s dividend payout ratio is currently -16.05%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Methode Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Methode Electronics in the 2nd quarter worth approximately $2,619,000. Point72 Asset Management L.P. lifted its stake in shares of Methode Electronics by 150.0% in the second quarter. Point72 Asset Management L.P. now owns 19,000 shares of the electronics maker’s stock worth $197,000 after buying an additional 11,400 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Methode Electronics in the second quarter worth $863,000. Millennium Management LLC boosted its holdings in shares of Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock worth $6,707,000 after buying an additional 321,832 shares during the period. Finally, AQR Capital Management LLC grew its stake in Methode Electronics by 124.1% in the 2nd quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker’s stock valued at $2,331,000 after buying an additional 124,677 shares during the last quarter. Institutional investors and hedge funds 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.