Brief update of interests for Methode Electronics, Inc. (NYSE:MEI)


Methode Electronics, Inc.’s total number of short positions increased in September, contributing to the company’s total number of short positions (NYSE: MEI). There were 827,700 shares available for short selling as of September 15. This figure represents an increase of 8.5% compared to the previous day’s figure, which was 762,600 shares. Short sales represent approximately 2.4% of the total number of shares issued by the company. The current short interest rate is 5.2 days, deducted from the average daily volume of shares sold is 159,800. This number was used to calculate the present value of the short-term interest ratio.

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On September 1, the quarterly earnings report of Methode Electronics, which is listed on the NYSE under the symbol MEI, was made public. The electrical goods maker reported earnings per share (EPS) for the quarter at $0.58, $0.10 higher than the consensus estimate of $0.48 per share among market experts. Methode Electronics had a return on equity of 10.39% and its net margin was 8.17%. Both of these numbers are percentages. Additionally, the company reported that it achieved sales of $282.40 million for the quarter, which is significantly higher than analysts’ forecast of $275.00 million. Market watchers believe Methode Electronics will earn 2.9 cents per share for the current fiscal year.
On Tuesday, trading began for MEI shares for $37.23, which was flat throughout the day. The simple moving average of the company’s stock price over the past 50 days is $40.02 and the average for the past 200 days is $41.18. The current price of Methode Electronics is $49.94, which is significantly above both the 52-week low of $33.91 and the 52-week high of $33.91. The organization has a beta of 1.11, a price-earnings ratio of 14.83, and an aggregate value of $1.36 billion. A debt ratio stands at 0.21, a quick ratio which stands at 2.38, a current ratio which stands at 3.26 and a quick ratio which stands at 2.38.
Research analysts have incorporated the MEI into a number of their reports, which have featured discussions on the topic. In a research note published Wednesday, June 15, Robert W. Baird called Methode Electronics’ stock “neutral,” lowering its price target for the company’s stock from $46.00 to $42.00. In a research note published on Friday, September 23, raised its rating for Methode Electronics from “hold” to “buy.”

In addition, the company has just announced that it will distribute a quarterly dividend to its shareholders on October 28. The news was made public by the company. Currently registered investors will receive a dividend payment equal to $0.14 per share to be distributed on Friday, October 14. Ex-dividend day is Thursday, October 13, very soon. As a result, the yield is 1.50% and the annual dividend payment is $0.56. Currently, the payout percentage at Methode Electronics is 22.31%.

On September 19, the company’s chief operating officer, Joseph Elias Khoury, completed the sale of 12,000 shares of the company. Also, other things happened. With a total value of $462,000.00 of shares traded, the average price per share was $38.50, resulting in income of. Due to the sale, the COO now directly owns 384,420 shares of the company. The total value of these shares is approximately $14,800,170, so the COO’s new holdings are worth approximately $14,800,170. The Securities and Exchange Commission has received legal documentation on the transaction, which can be viewed in full by following the link provided in the previous sentence. The documentation has been provided to the SEC. Corporate insiders are responsible for holding 4.50% of the total shares issued.


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