Methode Electronics, Inc. (NYSE:MEI)‘s stock had its “outperform” rating reissued by research analysts at Robert W. Baird in a research report issued to clients and investors on Monday. They presently have a $47.00 price target on the electronics maker’s stock, down from their prior price target of $51.00. Robert W. Baird’s target price points to a potential upside of 18.84% from the stock’s current price.
Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. B. Riley reissued a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a report on Saturday, March 11th. Finally, FBR & Co reissued an “outperform” rating and set a $55.00 price objective (up previously from $50.00) on shares of Methode Electronics in a report on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Methode Electronics has a consensus rating of “Buy” and a consensus price target of $47.20.
Shares of Methode Electronics (NYSE:MEI) traded down 2.94% during trading on Monday, reaching $39.55. 418,077 shares of the company traded hands. Methode Electronics has a 52 week low of $28.16 and a 52 week high of $46.40. The firm’s 50 day moving average price is $41.18 and its 200-day moving average price is $42.11. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 16.06 and a beta of 0.83.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 28th. Shareholders of record on Friday, July 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Wednesday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.63%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in shares of Methode Electronics by 117,664.2% in the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after buying an additional 4,408,878 shares during the last quarter. Norges Bank acquired a new position in shares of Methode Electronics during the fourth quarter worth approximately $19,518,000. Opus Capital Group LLC acquired a new position in shares of Methode Electronics during the first quarter worth approximately $7,306,000. Clark Capital Management Group Inc. acquired a new position in shares of Methode Electronics during the first quarter worth approximately $6,901,000. Finally, Vanguard Group Inc. increased its position in shares of Methode Electronics by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after buying an additional 131,039 shares during the last quarter. 89.53% of the stock is owned by institutional investors and hedge funds.
About Methode Electronics
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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