Methode Electronics (NYSE:MEI) Price Target Raised to $16.00

Methode Electronics (NYSE:MEI) had its price objective upped by Robert W. Baird from $13.00 to $16.00 in a research note published on Friday morning,Benzinga reports. They currently have a neutral rating on the electronics maker’s stock.

Separately, StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Methode Electronics Stock Performance

NYSE MEI opened at $12.73 on Friday. The firm has a market capitalization of $448.67 million, a P/E ratio of -5.03 and a beta of 0.81. Methode Electronics has a 1-year low of $8.54 and a 1-year high of $23.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The business’s 50-day simple moving average is $10.41 and its 200-day simple moving average is $10.78.

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, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period last year, the company posted $0.06 EPS. Equities analysts predict that Methode Electronics will post -0.47 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.40%. The ex-dividend date was Friday, October 18th. Methode Electronics’s dividend payout ratio (DPR) is presently -22.13%.

Insider Buying and Selling

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $11.38 per share, with a total value of $100,144.00. Following the transaction, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This trade represents a 51.25 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David P. Blom bought 9,320 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was 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 owns 37,531 shares in the company, valued at $405,710.11. This represents a 33.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Methode Electronics

Institutional investors have recently made changes to their positions in the business. nVerses Capital LLC raised its position in shares of Methode Electronics by 1,600.0% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 3,200 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Methode Electronics by 749.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after acquiring an additional 5,023 shares during the last quarter. CWM LLC increased its holdings in shares of Methode Electronics by 685.1% in the 3rd quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 7,618 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Methode Electronics in the 2nd quarter valued at approximately $111,000. Finally, Quest Partners LLC increased its holdings in shares of Methode Electronics by 17.1% in the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 1,758 shares during the last quarter. 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.