Methode Electronics (NYSE:MEI) Stock Price Down 6.2% – Should You Sell?

Methode Electronics, Inc. (NYSE:MEI) shares fell 6.2% during mid-day trading on Thursday . The company traded as low as $17.28 and last traded at $17.2650. Approximately 40,150 shares were traded during mid-day trading, a decline of 94% from the average session volume of 676,543 shares. The stock had previously closed at $18.41.

Wall Street Analysts Forecast Growth

MEI has been the topic of a number of research analyst reports. Zacks Research cut shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a report on Tuesday. Sidoti restated a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a report on Friday, June 26th. Wall Street Zen raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Finally, 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 note on Friday, June 26th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Methode Electronics presently has a consensus rating of “Reduce” and a consensus target price of $19.33.

Methode Electronics Stock Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. The stock has a 50 day simple moving average of $11.94 and a two-hundred day simple moving average of $8.82. The company has a market cap of $538.72 million, a PE ratio of -15.04 and a beta of 1.47.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%.The business had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Equities analysts predict that Methode Electronics, Inc. will post -0.95 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 17th. Methode Electronics’s dividend payout ratio is currently -19.80%.

Hedge Funds Weigh In On Methode Electronics

A number of large investors have recently made changes to their positions in the stock. Strs Ohio boosted its holdings in Methode Electronics by 10.0% during the fourth quarter. Strs Ohio now owns 26,300 shares of the electronics maker’s stock worth $175,000 after buying an additional 2,400 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after buying an additional 2,815 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its holdings in Methode Electronics by 21.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock valued at $145,000 after buying an additional 3,778 shares in the last quarter. Barclays PLC lifted its position in shares of Methode Electronics by 4.5% during the 4th quarter. Barclays PLC now owns 90,325 shares of the electronics maker’s stock valued at $600,000 after acquiring an additional 3,906 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Methode Electronics by 9.3% during the 2nd quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker’s stock valued at $514,000 after acquiring an additional 4,600 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

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.