Methode Electronics (NYSE:MEI) Shares Down 6% – Time to Sell?

Methode Electronics, Inc. (NYSE:MEI)’s share price was down 6% during mid-day trading on Tuesday . The company traded as low as $14.55 and last traded at $14.7490. 125,004 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 678,537 shares. The stock had previously closed at $15.69.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Sidoti reaffirmed a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research note on Friday, June 26th. Robert W. Baird upped their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Monday, June 29th. Wall Street Zen cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Zacks Research upgraded Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Methode Electronics currently has an average rating of “Hold” and an average target price of $22.00.

Methode Electronics Stock Down 6.4%

The stock has a market capitalization of $520.94 million, a price-to-earnings ratio of -14.07 and a beta of 1.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.65. The firm has a 50-day moving average of $16.01 and a 200 day moving average of $11.54.

Methode Electronics (NYSE:MEI) last issued its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The business had revenue of $265.40 million for the quarter, compared to the consensus estimate of $238.31 million. As a group, sell-side analysts forecast that Methode Electronics, Inc. will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics’s payout ratio is presently -19.23%.

Institutional Investors Weigh In On Methode Electronics

Large investors have recently bought and sold shares of the company. California State Teachers Retirement System raised its position in Methode Electronics by 391.0% during the second quarter. California State Teachers Retirement System now owns 8,878 shares of the electronics maker’s stock valued at $168,000 after purchasing an additional 7,070 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Methode Electronics during the 2nd quarter worth $549,000. Wellington Management Group LLP acquired a new stake in Methode Electronics in the second quarter valued at about $1,658,000. Empowered Funds LLC bought a new position in Methode Electronics in the second quarter valued at about $11,882,000. Finally, Bank of America Corp DE acquired a new position in Methode Electronics during the second quarter worth about $1,911,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.