Methode Electronics, Inc. (NYSE:MEI) Short Interest Update

Methode Electronics, Inc. (NYSE:MEI) saw a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 1,195,282 shares, a growth of 54.8% from the February 26th total of 772,035 shares. Based on an average daily trading volume, of 725,669 shares, the days-to-cover ratio is presently 1.6 days. Currently, 3.4% of the company’s shares are sold short.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MEI shares. Robert W. Baird set a $8.50 target price on shares of Methode Electronics in a research note on Wednesday, January 14th. Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $8.50.

Methode Electronics Price Performance

MEI stock opened at $5.60 on Monday. The business’s fifty day moving average price is $7.49 and its 200 day moving average price is $7.31. Methode Electronics has a 12-month low of $4.88 and a 12-month high of $10.77. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $198.51 million, a PE ratio of -3.08 and a beta of 1.06.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). The firm had revenue of $233.70 million for the quarter, compared to analysts’ expectations of $219.44 million. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. On average, sell-side analysts anticipate that Methode Electronics will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, April 17th. This represents a $0.20 dividend on an annualized basis and a yield of 3.6%. Methode Electronics’s dividend payout ratio is -10.99%.

Hedge Funds Weigh In On Methode Electronics

Institutional investors have recently modified their holdings of the business. GSA Capital Partners LLP increased its stake in shares of Methode Electronics by 102.0% during the third quarter. GSA Capital Partners LLP now owns 376,777 shares of the electronics maker’s stock worth $2,845,000 after buying an additional 190,244 shares during the period. Penn Capital Management Company LLC purchased a new position in Methode Electronics in the third quarter worth approximately $1,340,000. Towle & Co. lifted its stake in Methode Electronics by 8.1% in the third quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock worth $7,801,000 after acquiring an additional 77,302 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in Methode Electronics by 415.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 71,270 shares of the electronics maker’s stock worth $538,000 after acquiring an additional 57,441 shares in the last quarter. Finally, Mutual Advisors LLC increased its position in shares of Methode Electronics by 16.4% in the 4th quarter. Mutual Advisors LLC now owns 134,649 shares of the electronics maker’s stock valued at $894,000 after purchasing an additional 18,990 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Methode Electronics

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.