Methode Electronics Inc. (NYSE:MEI) has received an average recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $40.25.

A number of brokerages have recently weighed in on MEI. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a report on Thursday, March 7th. Craig Hallum raised shares of Methode Electronics from a “hold” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $42.00 in a report on Friday, March 8th.

Shares of MEI traded up $0.15 during trading hours on Tuesday, reaching $29.90. 175,553 shares of the company traded hands, compared to its average volume of 240,539. The firm has a market capitalization of $1.11 billion, a PE ratio of 9.97 and a beta of 1.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 1.83. Methode Electronics has a 12-month low of $20.99 and a 12-month high of $45.45.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, March 7th. The electronics maker reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. The firm had revenue of $246.90 million for the quarter, compared to analyst estimates of $259.29 million. Methode Electronics had a net margin of 10.76% and a return on equity of 18.64%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.65 earnings per share. As a group, research analysts anticipate that Methode Electronics will post 2.89 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, April 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.47%. Methode Electronics’s dividend payout ratio is presently 14.67%.

In other Methode Electronics news, CAO Amit N. Patel bought 1,021 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average cost of $27.54 per share, for a total transaction of $28,118.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tributary Capital Management LLC lifted its position in Methode Electronics by 25.6% during the first quarter. Tributary Capital Management LLC now owns 510,498 shares of the electronics maker’s stock valued at $14,692,000 after purchasing an additional 104,067 shares during the period. Chartwell Investment Partners LLC raised its position in shares of Methode Electronics by 0.8% in the first quarter. Chartwell Investment Partners LLC now owns 75,078 shares of the electronics maker’s stock worth $2,161,000 after acquiring an additional 615 shares during the period. Roubaix Capital LLC acquired a new position in shares of Methode Electronics in the first quarter worth about $3,853,000. Geode Capital Management LLC raised its position in shares of Methode Electronics by 12.3% in the fourth quarter. Geode Capital Management LLC now owns 397,812 shares of the electronics maker’s stock worth $9,265,000 after acquiring an additional 43,558 shares during the period. Finally, Norges Bank acquired a new position in shares of Methode Electronics in the fourth quarter worth about $17,166,000. Institutional investors own 97.34% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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