Methode Electronics (NYSE:MEI) Stock Crosses Above 200 Day Moving Average – Here’s Why

Methode Electronics, Inc. (NYSE:MEI) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.12 and traded as high as $12.38. Methode Electronics shares last traded at $11.89, with a volume of 461,631 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, December 6th.

Methode Electronics Stock Up 0.1 %

The business’s 50 day simple moving average is $11.59 and its 200 day simple moving average is $11.14. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $465.86 million, a PE ratio of -5.16 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the previous year, the business posted $0.06 earnings per share. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a $0.14 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.29%. Methode Electronics’s payout ratio is -22.13%.

Hedge Funds Weigh In On Methode Electronics

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Methode Electronics in the fourth quarter worth about $209,000. Diversified Trust Co bought a new stake in shares of Methode Electronics in the 4th quarter valued at about $126,000. Barclays PLC lifted its position in shares of Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after purchasing an additional 67,656 shares during the period. Geode Capital Management LLC boosted its stake in shares of Methode Electronics by 2.6% during the third quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock valued at $9,603,000 after purchasing an additional 20,487 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Methode Electronics by 150.6% during the third quarter. Public Employees Retirement System of Ohio now owns 39,635 shares of the electronics maker’s stock valued at $474,000 after buying an additional 23,820 shares during the period. 95.49% of the stock is currently owned by institutional investors.

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.