Methode Electronics (NYSE:MEI) Given New $16.00 Price Target at Robert W. Baird

Methode Electronics (NYSE:MEI - Free Report) had its target price boosted by Robert W. Baird from $13.00 to $16.00 in a research note issued to investors on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the electronics maker's stock.

Separately, StockNews.com upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a research report on Friday, September 6th.

Methode Electronics Price Performance

Shares of NYSE:MEI traded down $1.29 during mid-day trading on Friday, reaching $12.73. The company had a trading volume of 884,097 shares, compared to its average volume of 363,872. Methode Electronics has a one year low of $8.54 and a one year high of $23.41. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. The company's 50-day moving average price is $10.41 and its 200-day moving average price is $10.80.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period last year, the firm earned $0.06 EPS. As a group, sell-side analysts expect that Methode Electronics will post -0.47 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.40%. The ex-dividend date was Friday, October 18th. Methode Electronics's dividend payout ratio (DPR) is presently -22.13%.

Insider Buying and Selling

In related news, Director Mary A. Lindsey purchased 8,800 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This represents a 51.25 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David P. Blom purchased 9,320 shares of the stock in a transaction dated Wednesday, September 18th. The stock was purchased at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the acquisition, the director now owns 37,531 shares of the company's stock, valued at approximately $405,710.11. This represents a 33.04 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. nVerses Capital LLC grew its holdings in shares of Methode Electronics by 1,600.0% during the third 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 in the last quarter. Nisa Investment Advisors LLC grew its stake 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 buying an additional 5,023 shares in the last quarter. CWM LLC increased its holdings in shares of 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 buying an additional 7,618 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Methode Electronics in the 2nd quarter worth $111,000. Finally, Quest Partners LLC raised its position in shares of Methode Electronics by 17.1% during the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock valued at $125,000 after buying an additional 1,758 shares in the last quarter. 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.