Methode Electronics (NYSE:MEI) Shares Pass Above 200 Day Moving Average – Time to Sell?

Methode Electronics, Inc. (NYSE:MEI) shares passed 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.

Wall Street Analyst Weigh In

Separately, Robert W. Baird lifted their price target on Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Methode Electronics Stock Down 2.4 %

The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The business has a fifty day moving average of $11.24 and a two-hundred day moving average of $11.01. The company has a market cap of $389.73 million, a price-to-earnings ratio of -4.32 and a beta of 0.78.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter last year, the business posted $0.06 EPS. As a group, equities analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid 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%.

Hedge Funds Weigh In On Methode Electronics

A number of hedge funds have recently made changes to their positions in MEI. nVerses Capital LLC boosted its holdings in shares of 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 shares of Methode Electronics by 685.1% during 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. Quest Partners LLC raised its stake in Methode Electronics by 17.1% during the second 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 period. Diversified Trust Co acquired a new position in Methode Electronics in the fourth quarter valued at approximately $126,000. Finally, Pinnacle Associates Ltd. purchased a new position in Methode Electronics in the third quarter worth approximately $132,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.