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

Methode Electronics, Inc. (NYSE:MEI)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.12 and traded as high as $12.38. Methode Electronics shares last traded at $11.89, with a volume of 461,631 shares changing hands.

Analyst Ratings Changes

Separately, Robert W. Baird raised their target price on 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 Down 3.1 %

The firm’s fifty day moving average is $11.52 and its 200-day moving average is $11.12. 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 capitalization of $423.78 million, a PE ratio of -4.70 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (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 in the prior year, the firm posted $0.06 earnings per share. On average, equities research analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.71%. The ex-dividend date of this dividend is Friday, January 17th. Methode Electronics’s dividend payout ratio (DPR) is -22.13%.

Hedge Funds Weigh In On Methode Electronics

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC lifted its stake in shares of Methode Electronics by 1,600.0% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 3,200 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Methode Electronics by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock valued at $909,000 after acquiring an additional 3,288 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Methode Electronics by 3.5% in 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. Versor Investments LP boosted its stake in Methode Electronics by 16.9% in the third quarter. Versor Investments LP now owns 38,100 shares of the electronics maker’s stock valued at $456,000 after acquiring an additional 5,500 shares during the period. Finally, Empowered Funds LLC increased its position in Methode Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 111,804 shares of the electronics maker’s stock worth $1,337,000 after buying an additional 5,628 shares during the period. Hedge funds and other institutional investors 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.