Mary A. Lindsey Purchases 8,800 Shares of Methode Electronics, Inc. (NYSE:MEI) Stock

Methode Electronics, Inc. (NYSE:MEI) Director Mary A. Lindsey purchased 8,800 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were purchased at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares of the company’s stock, valued at $295,538.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Methode Electronics Trading Up 9.9 %

MEI opened at $12.25 on Friday. The business has a fifty day moving average price of $11.01 and a 200 day moving average price of $11.40. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $26.02. The stock has a market capitalization of $433.53 million, a price-to-earnings ratio of -3.51 and a beta of 0.72.

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

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 4.57%. Methode Electronics’s dividend payout ratio (DPR) is currently -16.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Robert W. Baird decreased their target price on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Hedge Funds Weigh In On Methode Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Federated Hermes Inc. boosted its position in shares of Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after acquiring an additional 949,616 shares in the last quarter. Millennium Management LLC boosted its holdings in Methode Electronics by 98.7% in the second quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after purchasing an additional 321,832 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Methode Electronics in the second quarter valued at approximately $2,619,000. BNP Paribas Financial Markets increased its stake in Methode Electronics by 222.6% in the first quarter. BNP Paribas Financial Markets now owns 220,932 shares of the electronics maker’s stock valued at $2,691,000 after purchasing an additional 152,446 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in Methode Electronics by 124.1% during the second quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker’s stock worth $2,331,000 after purchasing an additional 124,677 shares in the last quarter. Institutional investors and hedge funds 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.