Algert Global LLC Sells 233,513 Shares of Methode Electronics, Inc. (NYSE:MEI)

Algert Global LLC reduced its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 85.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,038 shares of the electronics maker's stock after selling 233,513 shares during the period. Algert Global LLC owned 0.11% of Methode Electronics worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in MEI. Quarry LP bought a new position in Methode Electronics in the 4th quarter worth about $32,000. AlphaQuest LLC grew its stake in Methode Electronics by 196.8% in the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after acquiring an additional 2,990 shares in the last quarter. Diversified Trust Co bought a new position in Methode Electronics in the 4th quarter worth about $126,000. Inlight Wealth Management LLC bought a new position in Methode Electronics in the 4th quarter worth about $163,000. Finally, LSV Asset Management bought a new position in Methode Electronics in the 4th quarter worth about $169,000. 95.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MEI has been the topic of a number of research analyst reports. Sidoti upgraded 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 note on Tuesday, February 25th. Robert W. Baird lowered their price target on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th.

Insider Activity at Methode Electronics

In other news, CEO Jonathan B. Degaynor bought 32,733 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $6.46 per share, with a total value of $211,455.18. Following the completion of the transaction, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lars Ullrich purchased 15,150 shares of the firm's stock in a transaction on Friday, March 14th. The stock was bought at an average cost of $6.69 per share, with a total value of $101,353.50. Following the acquisition, the senior vice president now owns 15,150 shares of the company's stock, valued at approximately $101,353.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Methode Electronics Price Performance

Shares of MEI opened at $7.10 on Monday. The company has a 50 day moving average price of $6.34 and a 200-day moving average price of $9.45. Methode Electronics, Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $17.45. The stock has a market capitalization of $253.41 million, a PE ratio of -2.81 and a beta of 0.88. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share 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 during the quarter, compared to analysts' expectations of $264.01 million. During the same period in the previous year, the company posted ($0.33) EPS. Equities analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were given a dividend of $0.14 per share. The ex-dividend date was Thursday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 7.89%. Methode Electronics's payout ratio 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.

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