PDT Partners LLC Acquires 6,888 Shares of Methode Electronics, Inc. (NYSE:MEI)

PDT Partners LLC increased its holdings in Methode Electronics, Inc. (NYSE:MEI) by 9.1% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82,678 shares of the electronics maker’s stock after purchasing an additional 6,888 shares during the period. PDT Partners LLC owned approximately 0.23% of Methode Electronics worth $989,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MEI. nVerses Capital LLC boosted its position in Methode Electronics by 1,600.0% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock valued at $41,000 after buying an additional 3,200 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Methode Electronics by 749.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after acquiring an additional 5,023 shares during the period. CWM LLC increased its stake in Methode Electronics by 685.1% in the 3rd quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock worth $104,000 after purchasing an additional 7,618 shares during the period. Hennessy Advisors Inc. bought a new stake in Methode Electronics in the second quarter valued at approximately $111,000. Finally, Quest Partners LLC boosted its stake in shares of Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after purchasing an additional 1,758 shares during the period. Institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling

In other Methode Electronics news, Director David P. Blom acquired 9,320 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were acquired at an average price of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the acquisition, the director now owns 37,531 shares in the company, valued at $405,710.11. This trade represents a 33.04 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. The trade was a 51.25 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird lowered their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 6th.

Methode Electronics Price Performance

Shares of Methode Electronics stock opened at $10.92 on Monday. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 12-month low of $8.54 and a 12-month high of $25.34. The company has a market cap of $384.82 million, a P/E ratio of -2.71 and a beta of 0.76. The company’s fifty day simple moving average is $10.36 and its two-hundred day simple moving average is $10.80.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The company had revenue of $258.50 million for the quarter, compared to analysts’ expectations of $267.66 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Research analysts anticipate that Methode Electronics, Inc. will post -0.68 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.14 per share. The ex-dividend date was Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 5.13%. Methode Electronics’s dividend payout ratio is presently -13.90%.

Methode Electronics Company Profile

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.