David P. Blom Acquires 9,320 Shares of Methode Electronics, Inc. (NYSE:MEI) Stock

Methode Electronics, Inc. (NYSE:MEI) Director David P. Blom acquired 9,320 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were purchased 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 in the company, valued at approximately $405,710.11. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Methode Electronics Price Performance

MEI opened at $11.67 on Friday. The company’s 50-day simple moving average is $11.23 and its two-hundred day simple moving average is $11.63. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. The stock has a market capitalization of $413.00 million, a P/E ratio of -3.34 and a beta of 0.72. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $26.02.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The company had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same quarter last year, the company earned $0.06 EPS. As a group, analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.14 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.80%. Methode Electronics’s dividend payout ratio (DPR) is currently -16.05%.

Institutional Trading of Methode Electronics

A number of hedge funds have recently bought and sold shares of MEI. Quadrant Capital Group LLC lifted its position in shares of Methode Electronics by 512.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock valued at $28,000 after buying an additional 1,014 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Methode Electronics by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock valued at $328,000 after purchasing an additional 1,163 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Methode Electronics by 6.0% in the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 1,281 shares during the period. Quest Partners LLC increased its stake in shares of Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock worth $125,000 after purchasing an additional 1,758 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Methode Electronics by 5.3% during the 1st quarter. New York State Teachers Retirement System now owns 70,162 shares of the electronics maker’s stock valued at $855,000 after purchasing an additional 3,554 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

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

Methode Electronics Company Profile

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.