Barclays PLC Purchases 67,656 Shares of Methode Electronics, Inc. (NYSE:MEI)

Barclays PLC raised its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 112.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 127,917 shares of the electronics maker’s stock after acquiring an additional 67,656 shares during the period. Barclays PLC owned approximately 0.36% of Methode Electronics worth $1,530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MEI. Acadian Asset Management LLC bought a new position in Methode Electronics during the second quarter valued at $149,000. Quest Partners LLC increased its position in Methode Electronics by 17.1% during 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 during the last quarter. American Century Companies Inc. increased 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 acquiring an additional 76,391 shares during the last quarter. Federated Hermes Inc. increased its position in Methode Electronics by 128.1% during the second 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. Finally, Massachusetts Financial Services Co. MA increased its position in Methode Electronics by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 155,508 shares of the electronics maker’s stock valued at $1,610,000 after acquiring an additional 5,220 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price objective on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

Methode Electronics Trading Down 2.4 %

NYSE MEI opened at $10.93 on Monday. The company’s 50-day moving average price is $11.28 and its 200-day moving average price is $11.04. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a market cap of $389.73 million, a PE ratio of -4.32 and a beta of 0.78. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $22.20.

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

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.12%. The ex-dividend date is Friday, January 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -22.13%.

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.