Methode Electronics (NYSE:MEI) Given New $13.00 Price Target at Robert W. Baird

Methode Electronics (NYSE:MEI) had its target price lowered by Robert W. Baird from $15.00 to $13.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a neutral rating on the electronics maker’s stock.

Methode Electronics Stock Down 0.8 %

Shares of NYSE:MEI opened at $9.66 on Friday. The firm has a market capitalization of $341.19 million, a PE ratio of -2.77 and a beta of 0.72. Methode Electronics has a 1 year low of $8.54 and a 1 year high of $26.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The firm’s 50-day moving average is $11.19 and its two-hundred day moving average is $12.10.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The business had revenue of $258.50 million for the quarter, compared to analysts’ expectations of $267.66 million. During the same period in the previous year, the company earned $0.06 earnings per share. Analysts predict that Methode Electronics will post -0.51 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.56 annualized dividend and a yield of 5.80%. Methode Electronics’s payout ratio is -16.05%.

Institutional Investors Weigh In On Methode Electronics

A number of hedge funds have recently bought and sold shares of the stock. Nordea Investment Management AB increased its stake in shares of Methode Electronics by 58.8% during the first quarter. Nordea Investment Management AB now owns 224,600 shares of the electronics maker’s stock worth $2,700,000 after buying an additional 83,151 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Methode Electronics by 424.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,966 shares of the electronics maker’s stock worth $645,000 after acquiring an additional 42,875 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Methode Electronics by 13.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 554,904 shares of the electronics maker’s stock valued at $12,613,000 after purchasing an additional 64,055 shares during the last quarter. Heartland Advisors Inc. raised its holdings in shares of Methode Electronics by 40.4% in the 4th quarter. Heartland Advisors Inc. now owns 256,295 shares of the electronics maker’s stock valued at $6,098,000 after purchasing an additional 73,715 shares in the last quarter. Finally, Invenomic Capital Management LP purchased a new stake in shares of Methode Electronics during the 4th quarter worth $2,231,000. 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.