Methode Electronics, Inc. (NYSE:MEI) Short Interest Down 33.1% in January

Methode Electronics, Inc. (NYSE:MEI) was the recipient of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 900,885 shares, a decrease of 33.1% from the December 31st total of 1,346,004 shares. Based on an average daily trading volume, of 257,130 shares, the days-to-cover ratio is presently 3.5 days. Currently, 2.6% of the company’s shares are short sold. Currently, 2.6% of the company’s shares are short sold. Based on an average daily trading volume, of 257,130 shares, the days-to-cover ratio is presently 3.5 days.

Analysts Set New Price Targets

MEI has been the topic of a number of research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a report on Thursday, January 22nd. Robert W. Baird set a $8.50 price target on shares of Methode Electronics in a report on Wednesday, January 14th. Finally, Zacks Research upgraded Methode Electronics to a “hold” rating in a report on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.25.

Methode Electronics Stock Performance

Shares of MEI traded up $0.05 during trading hours on Friday, reaching $8.02. 325,541 shares of the company’s stock traded hands, compared to its average volume of 315,317. Methode Electronics has a twelve month low of $5.08 and a twelve month high of $11.98. The firm has a market capitalization of $283.81 million, a price-to-earnings ratio of -4.50 and a beta of 1.07. The business’s fifty day simple moving average is $7.21 and its two-hundred day simple moving average is $7.16. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.55 and a quick ratio of 1.68.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, December 3rd. The electronics maker reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.01. Methode Electronics had a negative return on equity of 7.10% and a negative net margin of 6.39%.The company had revenue of $246.90 million for the quarter, compared to the consensus estimate of $237.69 million. Analysts predict that Methode Electronics will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date was Friday, January 16th. Methode Electronics’s dividend payout ratio (DPR) is currently -11.24%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Bailard Inc. bought a new stake in Methode Electronics in the second quarter valued at approximately $488,000. CWM LLC increased its holdings in Methode Electronics by 100.8% during the 2nd quarter. CWM LLC now owns 43,031 shares of the electronics maker’s stock worth $409,000 after purchasing an additional 21,603 shares in the last quarter. LSV Asset Management raised its position in Methode Electronics by 37.2% in the 2nd quarter. LSV Asset Management now owns 168,100 shares of the electronics maker’s stock valued at $1,599,000 after buying an additional 45,600 shares during the last quarter. Mutual Advisors LLC bought a new stake in Methode Electronics in the 2nd quarter valued at approximately $703,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Methode Electronics during the 2nd quarter worth approximately $132,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.