Separately, Robert W. Baird dropped their price objective on Methode Electronics from $46.00 to $42.00 and set a neutral rating on the stock in a report on Wednesday, June 15th.
Methode Electronics Stock Down 0.1 %
Shares of MEI opened at $39.33 on Friday. The company has a current ratio of 3.34, a quick ratio of 2.49 and a debt-to-equity ratio of 0.22. Methode Electronics has a 12 month low of $33.91 and a 12 month high of $49.94. The stock’s 50 day moving average is $39.29 and its two-hundred day moving average is $42.16. The firm has a market cap of $1.51 billion, a P/E ratio of 14.62 and a beta of 1.15.
Methode Electronics Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, July 14th. Methode Electronics’s dividend payout ratio is presently 20.82%.
Insider Transactions at Methode Electronics
In other news, COO Joseph Elias Khoury sold 8,000 shares of Methode Electronics stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $38.55, for a total value of $308,400.00. Following the sale, the chief operating officer now directly owns 396,420 shares of the company’s stock, valued at $15,281,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.50% of the company’s stock.
Hedge Funds Weigh In On Methode Electronics
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. New Century Advisors LLC boosted its stake in Methode Electronics by 56.4% during the second quarter. New Century Advisors LLC now owns 837 shares of the electronics maker’s stock worth $31,000 after buying an additional 302 shares during the last quarter. Covestor Ltd acquired a new position in Methode Electronics during the fourth quarter worth $48,000. First Bank & Trust acquired a new position in Methode Electronics during the second quarter worth $51,000. Point72 Hong Kong Ltd acquired a new position in Methode Electronics during the second quarter worth $99,000. Finally, KBC Group NV acquired a new position in Methode Electronics during the second quarter worth $118,000. Institutional investors and hedge funds own 94.03% 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.
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