Methode Electronics, Inc. (NYSE:MEI) SVP Buys $101,353.50 in Stock

Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction on Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, with a total value 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 $101,353.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.

Methode Electronics Stock Performance

NYSE:MEI opened at $6.78 on Friday. The business’s fifty day moving average is $10.16 and its 200 day moving average is $10.66. The firm has a market cap of $241.84 million, a price-to-earnings ratio of -2.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. Methode Electronics, Inc. has a 52-week low of $5.84 and a 52-week high of $17.45.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The firm had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. During the same period in the previous year, the company posted ($0.33) earnings per share. Research analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 8.26%. Methode Electronics’s payout ratio is -21.46%.

Analyst Ratings Changes

A number of research analysts have recently commented on MEI shares. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, February 25th. Robert W. Baird lowered their price target on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Quarry LP bought a new stake in Methode Electronics during the fourth quarter valued at $32,000. Virtus Fund Advisers LLC purchased a new stake in shares of Methode Electronics in the 4th quarter valued at about $38,000. AlphaQuest LLC boosted its position in shares of Methode Electronics by 196.8% during the 4th 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 during the last quarter. PharVision Advisers LLC purchased a new position in shares of Methode Electronics during the fourth quarter worth about $120,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new position in shares of Methode Electronics during the fourth quarter worth about $125,000. Institutional investors own 95.49% of the company’s stock.

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.