Shares last traded at $46.90 a tad above the 50 day moving average which is $43.38 and quite a bit above the 200 day moving average of $41.24. The 50 day moving average was up by +8.13% and the 200 day average went up by +13.73%. Trading volume for Methode Electronics, Inc. was 195K in the last trading session. Overall, volume was down 1.37% under the stocks normal daily volume.
Traders are a little more bullish on Methode Electronics, Inc. lately as inferred by the change in short interest. The stock saw a fall in short interest of -0.51% between September 29, 2017 and October 13, 2017. Short interest fell from 630,977 to 627,751 over that timeframe. With short interest at 627,751 and short average daily volume at 179,430, the short-interest ratio is 3.0 and the short interest percentage is 0.02% as of October 13.
These funds have shifted positions in (MEI). First Trust Advisors Lp bolstered its stake by buying 11,832 shares an increase of 47.3%. First Trust Advisors Lp controls 36,859 shares with a value of $1,561,000. The total value of its holdings increased 51.4%. As of the end of the quarter Nationwide Fund Advisors had bought a total of 11,557 shares growing its stake by 18.3%. The value of the investment in MEI went from $2,597,000 to $3,158,000 a change of 21.6% for the reporting period.
Parkside Financial Bank & Trust augmented its holdings by buying 3 shares an increase of 13.6% as of 09/30/2017. Parkside Financial Bank & Trust claims 25 shares worth $1,000. The value of the position overall is down by 0.0%. As of quarter end Aperio Group, LLC had acquired 1,607 shares growing its position 7.5%. The value of the total investment in Methode Electronics, Inc. increased from $884,000 to $977,000 increasing 10.5% quarter over quarter.
The company is so far trading up from yesterday’s close of $46.90. Additionally Methode Electronics, Inc. announced a dividend for shareholders that was paid on Friday the 27th of October 2017. The dividend payment was $0.090 per share for the quarter which comes to $0.36 on an annualized basis. This dividend represents a yield of $0.77. The ex-dividend date was Thursday the 12th of October 2017.
The company currently has a P/E ratio of 19.07 and market capitalization is 1.73B. In the latest earnings report the EPS was $2.46 and is estimated to be $2.58 for the current year with 36,810,000 shares outstanding. Next quarter’s EPS is forecasted to be $0.62 and the next full year EPS is anticipated to be $2.92.
Methode Electronics, Inc. (Methode), launched on April 27, 1966, 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. The Company has manufacturing, design and testing facilities in China, Egypt, Germany, India, Italy, Lebanon, Malta, Mexico, Singapore, Switzerland, the United Kingdom and the United States. The Business’s components are found in end markets of the aerospace, appliance, automotive, battery storage, construction, consumer and industrial equipment, communications (including information processing and storage, medical device, networking equipment, wireless and terrestrial voice/data systems), rail and other transportation industries..