Methode Electronics, Inc. (NYSE:MEI) Short Interest Down 28.4% in April

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) was the target of a significant drop in short interest in April. As of April 15th, there was short interest totalling 1,440,000 shares, a drop of 28.4% from the March 31st total of 2,010,000 shares. Approximately 4.4% of the shares of the stock are sold short. Based on an average daily volume of 418,000 shares, the short-interest ratio is currently 3.4 days.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MEI. Robert W. Baird dropped their target price on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Tuesday, February 25th.

Methode Electronics Price Performance

NYSE MEI traded down $0.08 during trading hours on Monday, reaching $6.60. The company's stock had a trading volume of 40,345 shares, compared to its average volume of 498,617. The company has a market capitalization of $235.56 million, a price-to-earnings ratio of -2.61 and a beta of 0.88. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. Methode Electronics has a 1 year low of $5.08 and a 1 year high of $17.45. The firm's 50-day moving average price is $6.72 and its 200-day moving average price is $9.57.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The business had revenue of $239.90 million during the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the business posted ($0.33) EPS. On average, equities research analysts predict that Methode Electronics will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were issued a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 annualized dividend and a yield of 8.48%. Methode Electronics's payout ratio is currently -21.46%.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, CEO Jonathan B. Degaynor purchased 32,733 shares of the stock in a transaction on Tuesday, March 11th. The stock was acquired at an average price of $6.46 per share, with a total value of $211,455.18. Following the transaction, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Lars Ullrich purchased 15,150 shares of the company's stock in a transaction that occurred on Friday, March 14th. The stock was acquired at an average cost of $6.69 per share, with a total value of $101,353.50. Following the purchase, the senior vice president now directly owns 15,150 shares of the company's stock, valued at $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MEI. Federated Hermes Inc. raised its position in shares of Methode Electronics by 46.2% in the 4th quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker's stock worth $16,666,000 after acquiring an additional 446,398 shares in the last quarter. Geode Capital Management LLC raised its position in Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker's stock worth $9,603,000 after buying an additional 20,487 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Methode Electronics by 4.6% during the fourth quarter. Ameriprise Financial Inc. now owns 651,283 shares of the electronics maker's stock valued at $7,679,000 after purchasing an additional 28,464 shares during the period. American Century Companies Inc. raised its position in Methode Electronics by 31.4% during the fourth quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker's stock valued at $6,333,000 after acquiring an additional 128,255 shares in the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Methode Electronics by 40.7% during the fourth quarter. AQR Capital Management LLC now owns 481,304 shares of the electronics maker's stock worth $5,675,000 after buying an additional 139,309 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

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.