Axa S.A. Invests $871,000 in Methode Electronics, Inc. (NYSE:MEI)

Axa S.A. acquired a new stake in shares of Methode Electronics, Inc. (NYSE:MEI) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 84,147 shares of the electronics maker’s stock, valued at approximately $871,000. Axa S.A. owned approximately 0.24% of Methode Electronics at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MEI. Point72 Asia Singapore Pte. Ltd. bought a new stake in Methode Electronics during the 2nd quarter valued at $584,000. Squarepoint Ops LLC lifted its stake in shares of Methode Electronics by 67.6% during the 2nd quarter. Squarepoint Ops LLC now owns 76,199 shares of the electronics maker’s stock worth $789,000 after purchasing an additional 30,727 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in Methode Electronics by 249.7% in the second quarter. Cubist Systematic Strategies LLC now owns 174,179 shares of the electronics maker’s stock valued at $1,803,000 after purchasing an additional 124,367 shares during the last quarter. Marshall Wace LLP grew its stake in Methode Electronics by 96.9% in the second quarter. Marshall Wace LLP now owns 117,192 shares of the electronics maker’s stock valued at $1,213,000 after purchasing an additional 57,671 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in Methode Electronics by 51.0% in the second quarter. Bank of Montreal Can now owns 88,510 shares of the electronics maker’s stock worth $863,000 after purchasing an additional 29,907 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MEI shares. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Robert W. Baird cut their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 6th.

Insider Buying and Selling at Methode Electronics

In related news, Director Mary A. Lindsey purchased 8,800 shares of Methode Electronics stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now owns 25,970 shares in the company, valued at $295,538.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mary A. Lindsey purchased 8,800 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now owns 25,970 shares in the company, valued at $295,538.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Blom bought 9,320 shares of the stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the purchase, the director now owns 37,531 shares in the company, valued at $405,710.11. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company’s stock.

Methode Electronics Stock Performance

Shares of MEI stock opened at $11.41 on Wednesday. The business has a fifty day moving average of $10.91 and a 200 day moving average of $11.35. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The firm has a market capitalization of $403.80 million, a price-to-earnings ratio of -3.27 and a beta of 0.72. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $26.02.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $258.50 million during the quarter, compared to analysts’ expectations of $267.66 million. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, research analysts expect that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.91%. The ex-dividend date is Friday, October 18th. Methode Electronics’s dividend payout ratio is currently -16.05%.

About Methode Electronics

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.