Methode Electronics (NYSE:MEI) Price Target Cut to $7.00 by Analysts at Robert W. Baird

Methode Electronics (NYSE:MEI - Free Report) had its target price reduced by Robert W. Baird from $9.00 to $7.00 in a report released on Tuesday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the electronics maker's stock.

Separately, Sidoti upgraded shares of 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.

Methode Electronics Trading Up 0.9 %

Shares of Methode Electronics stock traded up $0.05 during midday trading on Tuesday, reaching $5.69. 321,408 shares of the company's stock traded hands, compared to its average volume of 501,184. The company has a market cap of $203.01 million, a PE ratio of -2.25 and a beta of 0.93. The stock has a 50 day moving average of $7.59 and a 200-day moving average of $9.91. Methode Electronics has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the firm posted ($0.33) earnings per share. As a group, equities analysts expect that Methode Electronics will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 9.85%. The ex-dividend date was Thursday, April 17th. Methode Electronics's dividend payout ratio (DPR) is -21.46%.

Insider Transactions at Methode Electronics

In related news, SVP Lars Ullrich bought 15,150 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average price 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 of the company's stock, valued at approximately $101,353.50. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, with a total value of $211,455.18. Following the completion of the acquisition, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at $211,455.18. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Institutional Investors Weigh In On Methode Electronics

A number of hedge funds have recently added to or reduced their stakes in MEI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Methode Electronics by 8.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,139 shares of the electronics maker's stock worth $237,000 after buying an additional 1,513 shares during the last quarter. Quarry LP purchased a new position in Methode Electronics during the fourth quarter valued at $32,000. Aviance Capital Partners LLC increased its holdings in Methode Electronics by 5.2% in the 4th quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker's stock worth $667,000 after acquiring an additional 2,781 shares in the last quarter. AlphaQuest LLC lifted its stake in shares of Methode Electronics by 196.8% during the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock valued at $53,000 after buying an additional 2,990 shares in the last quarter. Finally, Virtus Fund Advisers LLC bought a new position in Methode Electronics in the 4th quarter worth $38,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.