Methode Electronics (NYSE:MEI) Share Price Passes Above 200-Day Moving Average - What's Next?

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.01 and traded as high as $11.25. Methode Electronics shares last traded at $11.16, with a volume of 549,423 shares trading hands.

Analyst Ratings Changes

Separately, Robert W. Baird increased their price objective 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.

Methode Electronics Stock Down 2.4 %

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The business has a 50 day simple moving average of $11.24 and a 200-day simple moving average of $11.01. The firm has a market capitalization of $389.73 million, a price-to-earnings ratio of -4.32 and a beta of 0.78.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping 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 in the previous year, the company earned $0.06 earnings per share. On average, equities analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, January 17th. Methode Electronics's dividend payout ratio is presently -22.13%.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEI. nVerses Capital LLC lifted its stake in shares of Methode Electronics by 1,600.0% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker's stock valued at $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 acquired a new position in Methode Electronics in the fourth quarter valued at about $126,000. Pinnacle Associates Ltd. purchased a new position in Methode Electronics during the third quarter worth about $132,000. Finally, Quest Partners LLC increased its position in shares of Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock valued at $125,000 after acquiring an additional 1,758 shares during the last quarter. Institutional investors and hedge funds 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.