Shares of Methode Electronics, Inc. (NYSE:MEI – Get Rating) reached a new 52-week low on Friday after Robert W. Baird lowered their price target on the stock from $42.00 to $38.00. The company traded as low as $33.35 and last traded at $33.88, with a volume of 37881 shares changing hands. The stock had previously closed at $34.04.
Separately, StockNews.com lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Monday, May 22nd.
Institutional Trading of Methode Electronics
Institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC purchased a new stake in shares of Methode Electronics during the first quarter valued at approximately $48,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of Methode Electronics during the fourth quarter valued at approximately $53,000. Point72 Hong Kong Ltd purchased a new stake in shares of Methode Electronics during the second quarter valued at approximately $99,000. Tower Research Capital LLC TRC boosted its stake in shares of Methode Electronics by 52.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,219 shares of the electronics maker’s stock valued at $120,000 after purchasing an additional 1,103 shares during the period. Finally, Captrust Financial Advisors boosted its stake in shares of Methode Electronics by 9.7% during the second quarter. Captrust Financial Advisors now owns 4,195 shares of the electronics maker’s stock valued at $155,000 after purchasing an additional 371 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Methode Electronics Price Performance
The business has a 50 day moving average of $41.48 and a 200 day moving average of $44.30. The company has a market cap of $1.23 billion, a PE ratio of 14.80 and a beta of 1.12. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.51 and a quick ratio of 2.60.
Methode Electronics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Investors of record on Friday, July 14th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, July 13th. Methode Electronics’s payout ratio is 24.35%.
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.