Geode Capital Management LLC Acquires 20,487 Shares of Methode Electronics, Inc. (NYSE:MEI)

Geode Capital Management LLC raised its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 802,728 shares of the electronics maker’s stock after purchasing an additional 20,487 shares during the quarter. Geode Capital Management LLC owned 2.28% of Methode Electronics worth $9,603,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Federated Hermes Inc. lifted its holdings in shares of Methode Electronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after acquiring an additional 949,616 shares during the last quarter. American Century Companies Inc. raised its position in Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after purchasing an additional 76,391 shares during the period. Verition Fund Management LLC lifted its stake in shares of 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 purchasing an additional 38,259 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Methode Electronics by 5.9% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock valued at $13,440,000 after purchasing an additional 62,470 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in shares of Methode Electronics by 58.8% in the 2nd quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock worth $361,000 after purchasing an additional 13,014 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Robert W. Baird increased their target price on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Trading Down 0.3 %

Shares of NYSE MEI opened at $11.79 on Thursday. Methode Electronics, Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $22.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The company has a market cap of $420.40 million, a price-to-earnings ratio of -4.66 and a beta of 0.81. The business’s 50 day moving average price is $10.94 and its 200-day moving average price is $10.95.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the business earned $0.06 EPS. On average, sell-side analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.56 annualized dividend and a yield of 4.75%. Methode Electronics’s dividend payout ratio (DPR) is -22.13%.

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.