Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor Purchases 32,733 Shares

Methode Electronics, Inc. (NYSE:MEI) CEO Jonathan B. Degaynor purchased 32,733 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $6.46 per share, with a total value of $211,455.18. Following the completion of the purchase, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at $211,455.18. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Methode Electronics Stock Performance

Shares of MEI stock traded up $0.25 during trading hours on Wednesday, reaching $6.66. The stock had a trading volume of 155,198 shares, compared to its average volume of 397,895. The firm has a market capitalization of $237.48 million, a PE ratio of -2.64 and a beta of 0.77. The firm has a 50-day simple moving average of $10.89 and a 200-day simple moving average of $10.85. Methode Electronics, Inc. has a twelve month low of $5.84 and a twelve month high of $17.45. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. The firm had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. During the same quarter in the previous year, the business posted ($0.33) EPS. As a group, equities analysts forecast 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 31st. Stockholders of record on Friday, January 17th were paid a $0.14 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.56 annualized dividend and a dividend yield of 8.41%. Methode Electronics’s payout ratio is -21.46%.

Analysts Set New Price Targets

MEI has been the subject of several analyst reports. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Tuesday, February 25th. Robert W. Baird decreased their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a research report on Friday, March 7th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MEI. Quarry LP acquired a new stake in Methode Electronics in the fourth quarter worth about $32,000. Virtus Fund Advisers LLC acquired a new stake in shares of Methode Electronics in the 4th quarter worth approximately $38,000. AlphaQuest LLC boosted its holdings in shares of Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after acquiring an additional 2,990 shares in the last quarter. PharVision Advisers LLC acquired a new position in shares of Methode Electronics during the fourth quarter valued at approximately $120,000. Finally, Diversified Trust Co bought a new stake in Methode Electronics during the fourth quarter worth approximately $126,000. 95.49% of the stock is owned by institutional investors and hedge funds.

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.