nVerses Capital LLC Boosts Holdings in Methode Electronics, Inc. (NYSE:MEI)

nVerses Capital LLC raised its stake in Methode Electronics, Inc. (NYSE:MEI) by 1,600.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,400 shares of the electronics maker’s stock after acquiring an additional 3,200 shares during the quarter. nVerses Capital LLC’s holdings in Methode Electronics were worth $41,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MEI. Nisa Investment Advisors LLC raised its holdings in shares of Methode Electronics by 749.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock worth $59,000 after purchasing an additional 5,023 shares during the period. CWM LLC raised its stake in shares of Methode Electronics by 685.1% in the third quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock valued at $104,000 after buying an additional 7,618 shares during the period. Hennessy Advisors Inc. purchased a new position in shares of Methode Electronics during the 2nd quarter valued at $111,000. SG Americas Securities LLC bought a new position in shares of Methode Electronics during the 1st quarter worth $136,000. Finally, Quest Partners LLC increased its holdings in Methode Electronics by 17.1% in the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 1,758 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MEI has been the topic of several recent research reports. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird dropped their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th.

Methode Electronics Stock Down 1.1 %

Shares of NYSE MEI opened at $10.33 on Wednesday. The business has a 50-day simple moving average of $10.72 and a two-hundred day simple moving average of $11.25. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $25.34. The company has a market cap of $365.58 million, a P/E ratio of -2.96 and a beta of 0.72. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40.

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

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.14 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.42%. Methode Electronics’s dividend payout ratio (DPR) is presently -16.05%.

Insider Activity at Methode Electronics

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

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.