Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich Buys 15,150 Shares

Methode Electronics, Inc. (NYSE:MEI) SVP Lars Ullrich bought 15,150 shares of the business’s stock in a transaction that occurred on Friday, March 14th. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the purchase, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Methode Electronics Trading Down 2.2 %

NYSE MEI opened at $6.42 on Wednesday. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 52 week low of $5.84 and a 52 week high of $17.45. The stock has a market capitalization of $228.96 million, a PE ratio of -2.54 and a beta of 0.77. The firm has a 50 day moving average of $10.34 and a two-hundred day moving average of $10.71.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The firm had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter last year, the firm earned ($0.33) EPS. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Methode Electronics in the 4th quarter valued at $125,000. PharVision Advisers LLC acquired a new position in shares of Methode Electronics in the 4th quarter valued at $120,000. Virtus Fund Advisers LLC purchased a new stake in Methode Electronics in the 4th quarter valued at $38,000. Virtus Investment Advisers Inc. purchased a new stake in Methode Electronics in the 4th quarter valued at $189,000. Finally, Two Sigma Advisers LP raised its position in Methode Electronics by 15.8% in the 4th quarter. Two Sigma Advisers LP now owns 238,700 shares of the electronics maker’s stock valued at $2,814,000 after purchasing an additional 32,500 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

MEI has been the topic of several recent research reports. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, February 25th. Robert W. Baird cut their target price on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.