Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its holdings in Methode Electronics, Inc. (NYSE:MEI) by 150.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,000 shares of the electronics maker’s stock after acquiring an additional 11,400 shares during the quarter. Point72 Asset Management L.P. owned 0.05% of Methode Electronics worth $197,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MEI. Nisa Investment Advisors LLC raised its stake in shares of Methode Electronics by 749.7% during the second 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. acquired a new stake in shares of Methode Electronics in the 2nd quarter worth approximately $111,000. Quest Partners LLC boosted its holdings in shares of Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 1,758 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Methode Electronics during the first quarter valued at approximately $136,000. Finally, Acadian Asset Management LLC bought a new stake in Methode Electronics during the second quarter worth approximately $149,000. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Price Performance

NYSE MEI opened at $11.08 on Friday. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $26.02. The business’s fifty day moving average is $10.80 and its two-hundred day moving average is $11.34. The stock has a market capitalization of $392.12 million, a P/E ratio of -3.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The company had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period last year, the firm earned $0.06 earnings per share. On average, research analysts forecast that Methode Electronics, Inc. will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a dividend of $0.14 per share. 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 5.05%. Methode Electronics’s payout ratio is -16.05%.

Insider Activity at Methode Electronics

In other news, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the acquisition, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were bought at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction on Wednesday, September 18th. The stock was bought at an average cost of $10.81 per share, with a total value of $100,749.20. Following the transaction, the director now directly owns 37,531 shares of the company’s stock, valued at approximately $405,710.11. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

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

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.