Methode Electronics (NYSE:MEI) Now Covered by StockNews.com

StockNews.com began coverage on shares of Methode Electronics (NYSE:MEI – Get Rating) in a report published on Thursday morning. The brokerage issued a buy rating on the electronics maker’s stock.

Several other research analysts have also weighed in on the company. Robert W. Baird cut their target price on Methode Electronics from $52.00 to $49.00 in a research report on Monday, March 13th. Jefferies Financial Group began coverage on Methode Electronics in a research report on Tuesday, November 22nd. They issued a buy rating and a $52.00 target price on the stock.

Methode Electronics Trading Down 2.2 %

Shares of Methode Electronics stock traded down $0.91 during trading hours on Thursday, reaching $40.92. 806,315 shares of the company’s stock were exchanged, compared to its average volume of 176,061. The company has a current ratio of 3.51, a quick ratio of 2.60 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 17.79 and a beta of 1.14. The company has a fifty day moving average of $47.33 and a 200-day moving average of $43.73. Methode Electronics has a 52-week low of $33.91 and a 52-week high of $51.38.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 14th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, April 13th. Methode Electronics’s dividend payout ratio (DPR) is presently 24.35%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. GHP Investment Advisors Inc. raised its position in Methode Electronics by 57.4% in the fourth quarter. GHP Investment Advisors Inc. now owns 51,055 shares of the electronics maker’s stock valued at $2,265,000 after purchasing an additional 18,624 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in Methode Electronics in the fourth quarter valued at about $53,000. State of Tennessee Treasury Department raised its position in Methode Electronics by 8.0% in the fourth quarter. State of Tennessee Treasury Department now owns 23,206 shares of the electronics maker’s stock valued at $1,030,000 after purchasing an additional 1,726 shares during the period. Squarepoint Ops LLC raised its position in Methode Electronics by 372.1% in the fourth quarter. Squarepoint Ops LLC now owns 27,664 shares of the electronics maker’s stock valued at $1,227,000 after purchasing an additional 21,804 shares during the period. Finally, Legal & General Group Plc raised its position in Methode Electronics by 2.0% in the fourth quarter. Legal & General Group Plc now owns 107,265 shares of the electronics maker’s stock valued at $4,759,000 after purchasing an additional 2,054 shares during the period. 95.93% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Company Profile

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Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.