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

Methode Electronics, Inc. (NYSE:MEI) crossed 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 traded.

Analyst Ratings Changes

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 note on Friday, December 6th.

Methode Electronics Stock Performance

The business has a 50-day moving average price of $11.59 and a 200-day moving average price of $11.14. 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 firm has a market capitalization of $465.86 million, a price-to-earnings ratio of -5.16 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating 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 last year, the company posted $0.06 EPS. As a group, sell-side analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Friday, January 17th. Methode Electronics’s payout ratio is currently -22.13%.

Institutional Investors Weigh In On Methode Electronics

Several institutional investors and hedge funds have recently made changes to their positions in MEI. SG Americas Securities LLC purchased a new stake in Methode Electronics during the 4th quarter valued at about $209,000. Diversified Trust Co purchased a new stake in shares of Methode Electronics in the 4th quarter valued at $126,000. Barclays PLC increased its stake in shares of Methode Electronics by 112.3% in the third quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after acquiring an additional 67,656 shares during the period. Geode Capital Management LLC raised its holdings in shares of Methode Electronics by 2.6% during the third 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 last quarter. Finally, Public Employees Retirement System of Ohio lifted its position in Methode Electronics by 150.6% during the third quarter. Public Employees Retirement System of Ohio now owns 39,635 shares of the electronics maker’s stock valued at $474,000 after purchasing an additional 23,820 shares during the period. 95.49% of the stock is currently 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.