David P. Blom Acquires 9,320 Shares of Methode Electronics, Inc. (NYSE:MEI) Stock

Methode Electronics, Inc. (NYSE:MEI) Director David P. Blom purchased 9,320 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the acquisition, the director now owns 37,531 shares in the company, valued at approximately $405,710.11. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Methode Electronics Trading Up 2.2 %

MEI opened at $11.67 on Friday. The stock has a 50-day moving average of $11.23 and a 200 day moving average of $11.63. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $26.02. The firm has a market cap of $413.00 million, a P/E ratio of -3.34 and a beta of 0.72.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The company had revenue of $258.50 million during the quarter, compared to analysts’ expectations of $267.66 million. During the same quarter last year, the firm posted $0.06 EPS. As a group, research analysts forecast that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.80%. The ex-dividend date is Friday, October 18th. Methode Electronics’s dividend payout ratio is currently -16.05%.

Hedge Funds Weigh In On Methode Electronics

Large investors have recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in Methode Electronics by 512.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 1,014 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of Methode Electronics by 749.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock worth $59,000 after acquiring an additional 5,023 shares during the last quarter. Hennessy Advisors Inc. purchased a new position in Methode Electronics during the 2nd quarter valued at $111,000. Quest Partners LLC grew its position in Methode Electronics by 17.1% in the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 1,758 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Methode Electronics in the first quarter worth $136,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

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.