Mary A. Lindsey Buys 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 company’s stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the transaction, the director now directly owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Methode Electronics Stock Performance

Shares of Methode Electronics stock opened at $12.25 on Friday. The business’s 50 day moving average price is $11.01 and its 200 day moving average price is $11.40. The company has a market cap of $433.53 million, a price-to-earnings ratio of -3.51 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $26.02.

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

Methode Electronics Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend 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 -16.05%.

Analyst Ratings Changes

Several brokerages have issued reports on MEI. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird dropped their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 6th.

Institutional Trading of Methode Electronics

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Methode Electronics by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock worth $56,998,000 after acquiring an additional 30,994 shares during the period. Federated Hermes Inc. grew its holdings 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 purchasing an additional 949,616 shares during the period. Millennium Management LLC increased its position in shares of Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock worth $6,707,000 after purchasing an additional 321,832 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Methode Electronics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,904 shares of the electronics maker’s stock valued at $12,613,000 after buying an additional 64,055 shares during the period. Finally, American Century Companies Inc. lifted its position in Methode Electronics by 29.5% in the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after buying an additional 76,391 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

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.