Methode Electronics (NYSE:MEI) Stock Passes Above 200 Day Moving Average – Here’s Why

Methode Electronics, Inc. (NYSE:MEI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $7.26 and traded as high as $9.17. Methode Electronics shares last traded at $9.00, with a volume of 323,558 shares trading hands.

Wall Street Analyst Weigh In

MEI has been the subject of several recent analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Thursday, January 22nd. Zacks Research raised shares of Methode Electronics to a “hold” rating in a research report on Tuesday, December 9th. Finally, Robert W. Baird set a $8.50 price objective on shares of Methode Electronics in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.25.

Methode Electronics Stock Down 1.0%

The company has a market capitalization of $318.69 million, a PE ratio of -5.06 and a beta of 1.08. The stock’s fifty day moving average is $7.37 and its two-hundred day moving average is $7.26. The company has a current ratio of 2.55, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.01. The business had revenue of $246.90 million for the quarter, compared to analyst estimates of $237.69 million. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.10%. As a group, analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a $0.05 dividend. The ex-dividend date was Friday, January 16th. This represents a $0.20 annualized dividend and a yield of 2.2%. Methode Electronics’s dividend payout ratio is presently -11.24%.

Institutional Trading of Methode Electronics

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Methode Electronics by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 3,169,009 shares of the electronics maker’s stock valued at $23,926,000 after buying an additional 136,842 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Methode Electronics by 0.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,266,980 shares of the electronics maker’s stock valued at $9,566,000 after acquiring an additional 8,869 shares during the period. AQR Capital Management LLC lifted its holdings in Methode Electronics by 29.7% during the second quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock valued at $11,505,000 after purchasing an additional 276,923 shares during the last quarter. Towle & Co. lifted its holdings in Methode Electronics by 8.1% during the third quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock valued at $7,801,000 after purchasing an additional 77,302 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in Methode Electronics by 8.8% during the third quarter. Ameriprise Financial Inc. now owns 873,399 shares of the electronics maker’s stock worth $6,594,000 after purchasing an additional 70,500 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.