Acadian Asset Management LLC Takes Position in Methode Electronics, Inc. (NYSE:MEI)

Acadian Asset Management LLC purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,521 shares of the electronics maker’s stock, valued at approximately $149,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MEI. Quadrant Capital Group LLC boosted its holdings in Methode Electronics by 512.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 1,014 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Methode Electronics by 749.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after purchasing an additional 5,023 shares in the last quarter. Hennessy Advisors Inc. purchased a new position in shares of Methode Electronics during the 2nd quarter valued at approximately $111,000. SG Americas Securities LLC acquired a new stake in shares of Methode Electronics during the first quarter worth approximately $136,000. Finally, Counterpoint Mutual Funds LLC bought a new stake in shares of Methode Electronics in the first quarter worth $176,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

MEI stock opened at $11.67 on Friday. The stock’s 50 day simple moving average is $11.23 and its 200 day simple moving average is $11.63. Methode Electronics, Inc. has a 12-month low of $8.54 and a 12-month high of $26.02. The firm has a market cap of $413.00 million, a P/E ratio of -3.39 and a beta of 0.72. 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 (NYSE:MEI) last released its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share 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 business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same quarter in the previous year, the firm earned $0.06 EPS. As a group, equities research analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a yield of 4.80%. Methode Electronics’s dividend payout ratio is currently -16.05%.

Insider Buying and Selling at Methode Electronics

In related news, Director David P. Blom purchased 9,320 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the transaction, the director now owns 37,531 shares of the company’s stock, valued at $405,710.11. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.