Charles Schwab Investment Management Inc. Sells 82,383 Shares of Methode Electronics, Inc. (NYSE:MEI)

Charles Schwab Investment Management Inc. reduced its position in Methode Electronics, Inc. (NYSE:MEI) by 17.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 379,416 shares of the electronics maker’s stock after selling 82,383 shares during the period. Charles Schwab Investment Management Inc. owned 1.06% of Methode Electronics worth $4,473,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of MEI. Intech Investment Management LLC acquired a new stake in shares of Methode Electronics in the 3rd quarter worth $178,000. Algert Global LLC boosted its holdings in Methode Electronics by 228.2% in the third quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock worth $3,272,000 after acquiring an additional 190,203 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Methode Electronics by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock worth $909,000 after acquiring an additional 3,288 shares during the last quarter. Walleye Capital LLC grew its stake in shares of Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after acquiring an additional 155,147 shares during the last quarter. Finally, Verition Fund Management LLC increased its holdings in shares of Methode Electronics by 263.2% during the third quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after acquiring an additional 38,259 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on MEI. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, February 25th. Robert W. Baird dropped their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

Insider Activity at Methode Electronics

In other Methode Electronics news, SVP Lars Ullrich bought 15,150 shares of the company’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the transaction, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan B. Degaynor purchased 32,733 shares of Methode Electronics stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $6.46 per share, with a total value of $211,455.18. Following the acquisition, the chief executive officer now directly owns 32,733 shares in the company, valued at $211,455.18. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $6.89 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a twelve month low of $5.84 and a twelve month high of $17.45. The company’s 50 day moving average is $9.89 and its 200 day moving average is $10.60. The company has a market cap of $245.91 million, a PE ratio of -2.72 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. During the same period last year, the business earned ($0.33) EPS. On average, sell-side analysts forecast 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 Wednesday, April 2nd. Investors of record on Friday, April 18th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 8.13%. The ex-dividend date of this dividend is Thursday, April 17th. Methode Electronics’s dividend payout ratio (DPR) is -21.46%.

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.