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

Methode Electronics, Inc. (NYSE:MEI)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.01 and traded as high as $11.25. Methode Electronics shares last traded at $11.16, with a volume of 549,423 shares traded.

Analyst Ratings Changes

Separately, Robert W. Baird increased their target price on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Price Performance

The stock has a market cap of $397.93 million, a price-to-earnings ratio of -4.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. The stock’s 50 day simple moving average is $11.24 and its two-hundred day simple moving average is $11.01.

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

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.02%. Methode Electronics’s payout ratio is presently -22.13%.

Institutional Trading of Methode Electronics

A number of large investors have recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in shares of Methode Electronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after purchasing an additional 949,616 shares in the last quarter. Millennium Management LLC lifted its holdings in Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after purchasing an additional 321,832 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Methode Electronics in the second quarter valued at about $2,619,000. Algert Global LLC grew its stake in Methode Electronics by 228.2% during the third quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock worth $3,272,000 after buying an additional 190,203 shares during the last quarter. Finally, Walleye Capital LLC increased its holdings in shares of Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after buying an additional 155,147 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Company Profile

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.