Algert Global LLC Invests $863,000 in Methode Electronics, Inc. (NYSE:MEI)

Algert Global LLC purchased a new position in Methode Electronics, Inc. (NYSE:MEI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 83,348 shares of the electronics maker’s stock, valued at approximately $863,000. Algert Global LLC owned about 0.24% of Methode Electronics as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Methode Electronics by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock worth $56,998,000 after buying an additional 30,994 shares during the last quarter. Federated Hermes Inc. lifted its stake in Methode Electronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after buying an additional 949,616 shares during the last quarter. Millennium Management LLC grew its position in shares of Methode Electronics by 98.7% during the second quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock worth $6,707,000 after acquiring an additional 321,832 shares during the last quarter. American Century Companies Inc. grew its position in shares of Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after acquiring an additional 76,391 shares during the last quarter. Finally, Bridge City Capital LLC increased its holdings in shares of Methode Electronics by 57.7% in the 1st quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock worth $2,992,000 after acquiring an additional 89,902 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Stock Up 1.8 %

MEI stock opened at $11.08 on Friday. The firm’s 50-day moving average is $10.80 and its two-hundred day moving average is $11.34. The company has a market capitalization of $392.12 million, a price-to-earnings ratio of -3.17 and a beta of 0.72. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $26.02. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The company had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same quarter last year, the company posted $0.06 EPS. On average, analysts forecast that Methode Electronics, Inc. will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics’s dividend payout ratio (DPR) is currently -16.05%.

Insider Activity at Methode Electronics

In other news, Director David P. Blom bought 9,320 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average cost of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Mary A. Lindsey bought 8,800 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the purchase, the director now directly owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David P. Blom purchased 9,320 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the purchase, the director now directly owns 37,531 shares of the company’s stock, valued at $405,710.11. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 4.80% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Robert W. Baird decreased their target price on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

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.