Methode Electronics (NYSE:MEI) PT Lowered to $13.00 at Robert W. Baird

Methode Electronics (NYSE:MEI) had its price target lowered by Robert W. Baird from $15.00 to $13.00 in a report issued on Friday, Benzinga reports. The firm currently has a neutral rating on the electronics maker’s stock.

Methode Electronics Stock Down 5.8 %

MEI stock opened at $9.74 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.95 and a debt-to-equity ratio of 0.43. The firm has a market cap of $344.70 million, a PE ratio of -2.79 and a beta of 0.71. Methode Electronics has a 1 year low of $8.54 and a 1 year high of $27.11. The company has a fifty day simple moving average of $11.19 and a 200 day simple moving average of $12.32.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative return on equity of 1.78% and a negative net margin of 11.06%. 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 posted $0.06 EPS. Sell-side analysts anticipate that Methode Electronics will post -0.51 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.56 annualized dividend and a yield of 5.75%. Methode Electronics’s dividend payout ratio (DPR) is presently -16.05%.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds and other institutional investors have recently made changes to their positions in MEI. Vanguard Group Inc. boosted its stake in Methode Electronics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock valued at $56,998,000 after purchasing an additional 30,994 shares during the period. Federated Hermes Inc. boosted its position in shares of Methode Electronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after acquiring an additional 949,616 shares during the period. Millennium Management LLC boosted its position in shares of 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 acquiring an additional 321,832 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Methode Electronics by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,904 shares of the electronics maker’s stock worth $12,613,000 after acquiring an additional 64,055 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after acquiring an additional 76,391 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

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.