Nisa Investment Advisors LLC Decreases Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Nisa Investment Advisors LLC cut its holdings in Methode Electronics, Inc. (NYSE:MEI) by 67.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,663 shares of the electronics maker’s stock after selling 23,897 shares during the period. Nisa Investment Advisors LLC’s holdings in Methode Electronics were worth $138,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Diversified Trust Co purchased a new position in Methode Electronics in the fourth quarter worth about $126,000. Barclays PLC boosted its holdings in shares of Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after purchasing an additional 67,656 shares during the period. Geode Capital Management LLC increased its position in shares of Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock valued at $9,603,000 after purchasing an additional 20,487 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Methode Electronics by 150.6% in the third quarter. Public Employees Retirement System of Ohio now owns 39,635 shares of the electronics maker’s stock worth $474,000 after buying an additional 23,820 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Methode Electronics in the third quarter worth $254,000. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Price Performance

MEI opened at $12.04 on Friday. The business has a fifty day moving average of $12.01 and a 200 day moving average of $11.20. The stock has a market cap of $429.17 million, a P/E ratio of -4.76 and a beta of 0.78. 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, Inc. has a 52-week low of $8.54 and a 52-week high of $22.20.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating 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 quarter last year, the company earned $0.06 earnings per share. As a group, sell-side analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current 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 $0.14 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.65%. Methode Electronics’s dividend payout ratio is currently -22.13%.

Wall Street Analyst Weigh In

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 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.