Short Interest in Methode Electronics, Inc. (NYSE:MEI) Expands By 12.0%
growth of 36.4% from the March 31st total of 957,000 shares. Based on an average daily trading volume, of 546,000 shares, the days-to-cover ratio is presently 2.4 days. Methode Electronics saw a 36.4% increase in short interest in April.
( ) saw a significant increase in short interest throughout the month of April. On April 15th there were 1,310,000 short shares, an increase of 12.0% compared to the 1,170,000 total shares on March 31st. About 3.8% of the shares are short. The days-to-cover is 7.8 days based on an average trading volume 168,900.
Changes in Analyst Ratings
Recent research has been conducted by several analysts on MEI's shares. MEI has been the subject of recent changes in holdings by several institutional investors and hedge fund managers. Wipfli Financial advisors LLC purchased shares of Methode Electronics valued at $38,000 in the third quarter. Ameritas Advisory Services LLC purchased a new position of shares in Methode Electronics during the first quarter. The price was $48,000. Steward Partners Investment Advisory LLC purchased shares of Methode Electronics for $53,000 in the fourth quarter. Point72 Hong Kong Ltd purchased shares of Methode Electronics for $99,000 in the second quarter. Tower Research Capital LLC TRC also increased its shares of Methode Electronics holdings by 52.1% during the third quarter. Tower Research Capital LLC TRC owns 3,219 of the electronics maker’s stock worth $120,000, after buying an additional 1,103 shares in the last quarter. Institutional investors and hedge fund currently own 95.93% the stock.
Methode Electronics stock down 0.3 %
Trading on Tuesday saw a decline of $0.12, bringing the stock price to $41.10. The stock was traded at a volume of 84,215 compared to the average of 153793. The market cap is $1.48 billion. It has a P/E of 17.87, and a beta value of 1.12. Methode Electronics's twelve-month low is $33.91, and its twelve-month high is $51.38. The 50-day moving average is $43.51; the two hundred-day moving average is $44.72. The company's debt-to equity ratio is 0.21. Its quick ratio is 2.60, and its current ratio is 3.51.
The last time ) released its results was on Thursday 9th March. The electronics manufacturer reported $0.54 per share in earnings for the third quarter. This was $0.14 below analysts' expectations of $0.68. The company had a revenue of $280.10 millions for the quarter compared with analyst estimates of 284.50. Methode Electronics' return on equity was 9.29%, and its net margin was 7.30%. Analysts expect Methode Electronics to post 2.5 EPS in the current year.
Methode Electronics Dividend announcement
A quarterly dividend was also paid by the company on Friday, 28th April. The $0.14 dividend was paid to shareholders who were registered on Friday, 14th April. The dividend was paid on Thursday, April 13. This is a $0.56 dividend with a yield of 1.36 percent. Methode Electronics has a dividend payout ratio of 24.45%.
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Methode Electronics, Inc is a manufacturer of subsystems and components. It is divided into four segments: Automotive Interface Industrial Medical. The Automotive segment provides electronic and electromechanical products, as well as related products, to automotive original equipment manufacturers.
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