Short Interest in Methode Electronics, Inc. (NYSE:MEI) Declines By 27.3%

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) saw a large decrease in short interest in January. As of January 15th, there was short interest totalling 1,280,000 shares, a decrease of 27.3% from the December 31st total of 1,760,000 shares. Based on an average trading volume of 427,400 shares, the short-interest ratio is currently 3.0 days. Currently, 3.9% of the company's stock are sold short.

Methode Electronics Stock Performance

Shares of NYSE:MEI traded up $0.14 during trading on Tuesday, hitting $10.94. 163,931 shares of the stock traded hands, compared to its average volume of 375,258. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $389.94 million, a price-to-earnings ratio of -4.32 and a beta of 0.76. The company has a fifty day moving average price of $12.03 and a two-hundred day moving average price of $11.13. Methode Electronics has a 52-week low of $8.54 and a 52-week high of $22.20.

Methode Electronics (NYSE:MEI - Get Free Report) last posted 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 business posted $0.06 earnings per share. As a group, equities analysts predict that Methode Electronics will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.12%. The ex-dividend date was Friday, January 17th. Methode Electronics's dividend payout ratio (DPR) is -22.13%.

Hedge Funds Weigh In On Methode Electronics

Institutional investors have recently made changes to their positions in the company. nVerses Capital LLC boosted its stake in Methode Electronics by 1,600.0% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker's stock worth $41,000 after purchasing an additional 3,200 shares during the last quarter. CWM LLC raised its holdings in Methode Electronics by 685.1% in the 3rd quarter. CWM LLC now owns 8,730 shares of the electronics maker's stock valued at $104,000 after buying an additional 7,618 shares during the period. Diversified Trust Co purchased a new stake in Methode Electronics during the fourth quarter worth about $126,000. Pinnacle Associates Ltd. purchased a new stake in Methode Electronics during the third quarter worth about $132,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Methode Electronics during the third quarter worth approximately $178,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price target on shares of Methode Electronics from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, December 6th.

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.