JPMorgan Chase & Co. Sells 228,127 Shares of Methode Electronics, Inc. (NYSE:MEI)

JPMorgan Chase & Co. cut its holdings in Methode Electronics, Inc. (NYSE:MEI) by 70.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,193 shares of the electronics maker’s stock after selling 228,127 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.27% of Methode Electronics worth $1,139,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC grew its holdings in Methode Electronics by 5.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock worth $13,440,000 after purchasing an additional 62,470 shares during the period. Geode Capital Management LLC boosted its position in shares of Methode Electronics by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after purchasing an additional 20,487 shares in the last quarter. Millennium Management LLC grew its stake in shares of Methode Electronics by 98.7% in the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock worth $6,707,000 after buying an additional 321,832 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Methode Electronics by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after buying an additional 76,391 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock valued at $3,999,000 after buying an additional 155,147 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Price Performance

Shares of MEI opened at $13.18 on Friday. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $22.20. The company has a market capitalization of $469.82 million, a P/E ratio of -5.21 and a beta of 0.78. The firm has a 50 day moving average of $11.80 and a 200 day moving average of $11.19. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI) last posted its 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 return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the business posted $0.06 earnings per share. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.25%. The ex-dividend date is Friday, January 17th. Methode Electronics’s dividend payout ratio is currently -22.13%.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird increased their target price on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 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.