Methode Electronics Inc. (NYSE:MEI) was the recipient of a large decrease in short interest in September. As of September 30th, there was short interest totalling 765,100 shares, a decrease of 9.8% from the August 30th total of 848,200 shares. Approximately 2.2% of the company’s shares are short sold. Based on an average daily trading volume, of 228,600 shares, the days-to-cover ratio is presently 3.3 days.

In other news, Director Bruce K. Crowther acquired 900 shares of Methode Electronics stock in a transaction on Wednesday, September 4th. The shares were purchased at an average price of $31.58 per share, with a total value of $28,422.00. Following the acquisition, the director now owns 3,900 shares in the company, valued at $123,162. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.40% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently modified their holdings of MEI. Meeder Asset Management Inc. acquired a new stake in Methode Electronics during the 2nd quarter worth $38,000. Quantamental Technologies LLC acquired a new stake in Methode Electronics during the 2nd quarter worth $42,000. Atria Investments LLC acquired a new stake in Methode Electronics during the 2nd quarter worth $54,000. Ladenburg Thalmann Financial Services Inc. raised its stake in Methode Electronics by 111.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,077 shares of the electronics maker’s stock worth $88,000 after buying an additional 1,620 shares during the period. Finally, Flinton Capital Management LLC raised its stake in Methode Electronics by 13.9% during the 2nd quarter. Flinton Capital Management LLC now owns 3,680 shares of the electronics maker’s stock worth $105,000 after buying an additional 448 shares during the period. 92.98% of the stock is currently owned by institutional investors and hedge funds.

MEI has been the topic of several research reports. TheStreet raised Methode Electronics from a “c+” rating to a “b” rating in a report on Wednesday, September 11th. B. Riley set a $42.00 price target on Methode Electronics and gave the company a “buy” rating in a research note on Friday, August 30th. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th. Finally, ValuEngine downgraded Methode Electronics from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $40.25.

MEI stock opened at $34.04 on Thursday. The business’s fifty day moving average is $33.44 and its 200-day moving average is $29.40. The company has a quick ratio of 1.88, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.22 billion, a P/E ratio of 11.50 and a beta of 1.48. Methode Electronics has a twelve month low of $20.99 and a twelve month high of $37.42.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, August 29th. The electronics maker reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. The company had revenue of $270.20 million for the quarter, compared to the consensus estimate of $268.15 million. Methode Electronics had a return on equity of 16.39% and a net margin of 9.19%. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 EPS. Research analysts anticipate that Methode Electronics will post 3.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.29%. The ex-dividend date of this dividend is Thursday, October 10th. Methode Electronics’s payout ratio is presently 14.86%.

Methode Electronics Company Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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