Methode Electronics, Inc. (NYSE:MEI) Stake Reduced by Quantbot Technologies LP

Quantbot Technologies LP trimmed its stake in Methode Electronics, Inc. (NYSE:MEI) by 30.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,145 shares of the electronics maker’s stock after selling 12,449 shares during the quarter. Quantbot Technologies LP’s holdings in Methode Electronics were worth $332,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of MEI. Intech Investment Management LLC bought a new stake in Methode Electronics during the 3rd quarter valued at $178,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Methode Electronics by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock valued at $909,000 after purchasing an additional 3,288 shares in the last quarter. Walleye Capital LLC lifted its holdings in Methode Electronics by 86.6% in the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after purchasing an additional 155,147 shares during the period. Verition Fund Management LLC grew its position in Methode Electronics by 263.2% in the 3rd quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after buying an additional 38,259 shares in the last quarter. Finally, PDT Partners LLC lifted its stake in shares of Methode Electronics by 9.1% in the 3rd quarter. PDT Partners LLC now owns 82,678 shares of the electronics maker’s stock worth $989,000 after acquiring an additional 6,888 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

MEI has been the topic of a number of research analyst reports. Robert W. Baird lowered their price objective 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. Sidoti upgraded Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, February 25th.

Insider Activity at Methode Electronics

In other news, SVP Lars Ullrich bought 15,150 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the acquisition, the senior vice president now directly owns 15,150 shares in the company, valued at $101,353.50. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the company’s stock in a transaction dated Tuesday, March 11th. The stock was purchased at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the transaction, the chief executive officer now owns 32,733 shares of the company’s stock, valued at $211,455.18. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Methode Electronics Stock Performance

NYSE:MEI opened at $6.48 on Friday. The company has a 50-day moving average of $9.56 and a 200-day moving average of $10.52. The firm has a market cap of $231.28 million, a price-to-earnings ratio of -2.56 and a beta of 0.77. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a twelve month low of $5.84 and a twelve month high of $17.45.

Methode Electronics (NYSE:MEI) last issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The business had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the previous year, the business posted ($0.33) earnings per share. Analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 8.64%. The ex-dividend date of this dividend is Thursday, April 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -21.46%.

Methode Electronics 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.