Methode Electronics (NYSE:MEI) Shares Cross Above 200 Day Moving Average – Here’s What Happened

Shares of Methode Electronics, Inc. (NYSE:MEIGet Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $7.51 and traded as high as $8.51. Methode Electronics shares last traded at $8.34, with a volume of 278,029 shares trading hands.

Trending Headlines about Methode Electronics

Here are the key news stories impacting Methode Electronics this week:

Analyst Ratings Changes

Several research analysts have recently issued reports on MEI shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Thursday, January 22nd. Zacks Research raised Methode Electronics to a “hold” rating in a research report on Tuesday, December 9th. Finally, Robert W. Baird set a $8.50 target price on Methode Electronics in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $8.50.

View Our Latest Analysis on Methode Electronics

Methode Electronics Stock Performance

The firm has a market cap of $229.81 million, a P/E ratio of -3.65 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 2.55. The business’s 50-day simple moving average is $7.93 and its 200 day simple moving average is $7.51.

Methode Electronics (NYSE:MEIGet Free Report) last issued its quarterly earnings data on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The firm had revenue of $233.70 million during the quarter, compared to the consensus estimate of $219.44 million. Methode Electronics had a negative return on equity of 7.10% and a negative net margin of 6.39%. As a group, equities analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 16th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, January 16th. This represents a $0.20 annualized dividend and a dividend yield of 3.1%. Methode Electronics’s dividend payout ratio is presently -11.24%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV grew its position in shares of Methode Electronics by 21.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock valued at $145,000 after acquiring an additional 3,778 shares during the period. Mackenzie Financial Corp raised its holdings in Methode Electronics by 1,841.5% in the 4th quarter. Mackenzie Financial Corp now owns 265,157 shares of the electronics maker’s stock worth $1,768,000 after purchasing an additional 251,500 shares during the period. Empowered Funds LLC lifted its position in Methode Electronics by 6.5% during the fourth quarter. Empowered Funds LLC now owns 418,122 shares of the electronics maker’s stock valued at $2,776,000 after purchasing an additional 25,684 shares in the last quarter. Tudor Investment Corp ET AL lifted its position in Methode Electronics by 30.6% during the fourth quarter. Tudor Investment Corp ET AL now owns 212,625 shares of the electronics maker’s stock valued at $1,412,000 after purchasing an additional 49,859 shares in the last quarter. Finally, Numerai GP LLC grew its holdings in Methode Electronics by 283.7% during the fourth quarter. Numerai GP LLC now owns 105,157 shares of the electronics maker’s stock valued at $698,000 after purchasing an additional 77,754 shares during the period. 95.49% of the stock is currently owned by institutional investors.

About Methode Electronics

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Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.

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