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

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) SVP Lars Ullrich bought 15,150 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the purchase, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Methode Electronics Stock Performance

NYSE:MEI traded down $0.06 during mid-day trading on Friday, reaching $6.71. 684,752 shares of the stock were exchanged, compared to its average volume of 486,559. The company has a 50 day simple moving average of $10.08 and a 200-day simple moving average of $10.63. The stock has a market capitalization of $239.49 million, a P/E ratio of -2.65 and a beta of 0.77. 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, Inc. has a 1 year low of $5.84 and a 1 year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $264.01 million. During the same quarter in the prior year, the business earned ($0.33) EPS. Analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

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Methode Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 8.35%. Methode Electronics's dividend payout ratio (DPR) is currently -21.46%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on MEI shares. Robert W. Baird reduced their price target on Methode Electronics from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a report on Tuesday, February 25th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of MEI. Quarry LP acquired a new stake in shares of Methode Electronics in the 4th quarter valued at approximately $32,000. Virtus Fund Advisers LLC acquired a new stake in shares of Methode Electronics in the 4th quarter valued at approximately $38,000. AlphaQuest LLC raised its holdings in Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after purchasing an additional 2,990 shares during the last quarter. PharVision Advisers LLC acquired a new position in Methode Electronics during the fourth quarter worth $120,000. Finally, Wealth Enhancement Advisory Services LLC acquired a new position in Methode Electronics during the fourth quarter worth $125,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.