Methode Electronics, Inc. (NYSE:MEI) SVP Buys $101,353.50 in Stock

Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich acquired 15,150 shares of the business’s stock in a transaction on Friday, March 14th. The shares were purchased at an average price of $6.69 per share, with a total value of $101,353.50. Following the transaction, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Methode Electronics Price Performance

Shares of NYSE MEI opened at $6.42 on Wednesday. The stock has a market cap of $228.96 million, a price-to-earnings ratio of -2.54 and a beta of 0.77. Methode Electronics, Inc. has a 52 week low of $5.84 and a 52 week high of $17.45. The company’s 50-day moving average price is $10.34 and its 200 day moving average price is $10.71. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the company posted ($0.33) earnings per share. As a group, research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds have recently modified their holdings of MEI. Empowered Funds LLC boosted its stake in shares of Methode Electronics by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 111,804 shares of the electronics maker’s stock worth $1,337,000 after purchasing an additional 5,628 shares during the last quarter. Aviance Capital Partners LLC boosted its stake in shares of Methode Electronics by 92.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 53,813 shares of the electronics maker’s stock worth $644,000 after purchasing an additional 25,802 shares during the last quarter. Howe & Rusling Inc. acquired a new stake in shares of Methode Electronics during the 3rd quarter worth about $325,000. Intech Investment Management LLC acquired a new stake in shares of Methode Electronics during the 3rd quarter worth about $178,000. Finally, Algert Global LLC boosted its stake in shares of Methode Electronics by 228.2% during the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock worth $3,272,000 after purchasing an additional 190,203 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEI has been the subject of a number of research analyst reports. Robert W. Baird cut their price target on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a report on Tuesday, February 25th.

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.