Methode Electronics (MEI) Stock Price Up 7%

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Methode Electronics Inc. (NYSE:MEI)’s share price rose 7% on Tuesday . The stock traded as high as $41.55 and last traded at $41.45. Approximately 597,828 shares traded hands during trading, an increase of 155% from the average daily volume of 234,753 shares. The stock had previously closed at $38.75.

MEI has been the subject of several research reports. Zacks Investment Research upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Thursday, May 17th. TheStreet lowered shares of Methode Electronics from a “b” rating to a “c+” rating in a research report on Friday, March 2nd. ValuEngine upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Monday, June 18th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of Methode Electronics in a research report on Friday, March 2nd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Methode Electronics presently has a consensus rating of “Hold” and a consensus target price of $49.00.

The firm has a market capitalization of $1.53 billion, a PE ratio of 13.55, a PEG ratio of 0.96 and a beta of 0.84. The company has a current ratio of 3.50, a quick ratio of 2.97 and a debt-to-equity ratio of 0.08.

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, June 21st. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.24. Methode Electronics had a net margin of 6.30% and a return on equity of 19.04%. The company had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $247.16 million. During the same quarter last year, the company posted $0.62 EPS. Methode Electronics’s quarterly revenue was up 13.3% compared to the same quarter last year. analysts anticipate that Methode Electronics Inc. will post 2.89 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 13th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.08%. The ex-dividend date is Thursday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is 14.67%.

A number of institutional investors have recently modified their holdings of the business. Dubuque Bank & Trust Co. raised its stake in Methode Electronics by 24.8% in the 1st quarter. Dubuque Bank & Trust Co. now owns 6,293 shares of the electronics maker’s stock worth $246,000 after purchasing an additional 1,250 shares in the last quarter. Profund Advisors LLC raised its position in shares of Methode Electronics by 21.5% in the 1st quarter. Profund Advisors LLC now owns 7,115 shares of the electronics maker’s stock valued at $278,000 after buying an additional 1,260 shares in the last quarter. Envestnet Asset Management Inc. raised its position in shares of Methode Electronics by 15.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 10,353 shares of the electronics maker’s stock valued at $415,000 after buying an additional 1,362 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Methode Electronics by 2.2% during the 4th quarter. Teachers Advisors LLC now owns 73,230 shares of the electronics maker’s stock valued at $2,937,000 after purchasing an additional 1,593 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Methode Electronics by 2.3% during the 1st quarter. Legal & General Group Plc now owns 74,269 shares of the electronics maker’s stock worth $2,894,000 after acquiring an additional 1,647 shares during the last quarter. Institutional investors and hedge funds own 92.45% 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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