Robert W. Baird Has Lowered Expectations for Methode Electronics (NYSE:MEI) Stock Price

Methode Electronics (NYSE:MEI - Free Report) had its price target decreased by Robert W. Baird from $9.00 to $7.00 in a research note released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the electronics maker's stock.

Separately, Sidoti raised 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.

Methode Electronics Stock Performance

MEI stock traded up $0.05 during trading on Tuesday, reaching $5.69. 321,408 shares of the stock were exchanged, compared to its average volume of 500,873. The company has a market capitalization of $203.01 million, a P/E ratio of -2.25 and a beta of 0.93. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics has a twelve month low of $5.08 and a twelve month high of $17.45. The stock has a 50 day simple moving average of $7.59 and a 200-day simple moving average of $9.90.

Methode Electronics (NYSE:MEI - Get Free Report) last issued 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). The business had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the prior year, the firm earned ($0.33) EPS. As a group, sell-side analysts anticipate that Methode Electronics will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were given a $0.14 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 9.85%. Methode Electronics's dividend payout ratio is presently -21.46%.

Insiders Place Their Bets

In other news, CEO Jonathan B. Degaynor bought 32,733 shares of the stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the acquisition, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Lars Ullrich purchased 15,150 shares of the business's stock in a transaction dated Friday, March 14th. The stock was purchased at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the acquisition, the senior vice president now owns 15,150 shares of the company's stock, valued at approximately $101,353.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Barclays PLC lifted its position in Methode Electronics by 112.3% during the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker's stock worth $1,530,000 after buying an additional 67,656 shares in the last quarter. Kingsview Wealth Management LLC acquired a new position in Methode Electronics during the fourth quarter valued at approximately $3,678,000. Geode Capital Management LLC grew its stake in Methode Electronics by 2.6% in the third quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker's stock valued at $9,603,000 after purchasing an additional 20,487 shares in the last quarter. Empowered Funds LLC increased its position in shares of Methode Electronics by 5.1% during the 4th quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker's stock worth $1,385,000 after purchasing an additional 5,677 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in shares of Methode Electronics during the 3rd quarter worth approximately $254,000. 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.