Methode Electronics, Inc. (NYSE:MEI) Short Interest Down 28.4% in September

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) was the recipient of a large drop in short interest in the month of September. As of September 30th, there was short interest totalling 1,260,000 shares, a drop of 28.4% from the September 15th total of 1,760,000 shares. Based on an average daily volume of 515,900 shares, the short-interest ratio is currently 2.4 days. Approximately 3.9% of the company's shares are short sold.

Methode Electronics Stock Up 5.5 %

Shares of Methode Electronics stock traded up $0.57 during midday trading on Friday, reaching $10.97. 591,898 shares of the company's stock traded hands, compared to its average volume of 553,567. The company has a market cap of $388.23 million, a price-to-earnings ratio of -3.14 and a beta of 0.72. The company's 50 day simple moving average is $10.63 and its 200 day simple moving average is $11.29. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. Methode Electronics has a 52 week low of $8.54 and a 52 week high of $26.02.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.03). The business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same quarter in the prior year, the business posted $0.06 EPS. Equities analysts expect that Methode Electronics will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.10%. Methode Electronics's dividend payout ratio is currently -16.05%.

Insider Buying and Selling

In other news, Director Mary A. Lindsey acquired 8,800 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the purchase, the director now owns 25,970 shares of the company's stock, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Mary A. Lindsey acquired 8,800 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the purchase, the director now owns 25,970 shares of the company's stock, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David P. Blom bought 9,320 shares of the firm's stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in Methode Electronics by 749.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker's stock worth $59,000 after acquiring an additional 5,023 shares during the period. 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 worth $104,000 after acquiring an additional 7,618 shares during the period. Hennessy Advisors Inc. bought a new position in Methode Electronics in the 2nd quarter worth $111,000. SG Americas Securities LLC acquired a new stake in Methode Electronics in the 1st quarter worth $136,000. Finally, Quest Partners LLC grew its position in Methode Electronics by 17.1% in the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock worth $125,000 after purchasing an additional 1,758 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on MEI shares. StockNews.com raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Robert W. Baird decreased their target price on shares of Methode Electronics from $15.00 to $13.00 and set a "neutral" rating for the company in a research note on Friday, September 6th.

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.