GSA Capital Partners LLP Boosts Stake in Methode Electronics, Inc. (NYSE:MEI)

GSA Capital Partners LLP grew its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 17.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 262,105 shares of the electronics maker's stock after purchasing an additional 38,355 shares during the period. GSA Capital Partners LLP owned about 0.73% of Methode Electronics worth $1,672,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEI. Federated Hermes Inc. boosted its position in Methode Electronics by 46.2% during the fourth quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker's stock worth $16,666,000 after purchasing an additional 446,398 shares during the period. Ameriprise Financial Inc. raised its stake in Methode Electronics by 4.6% during the fourth quarter. Ameriprise Financial Inc. now owns 651,283 shares of the electronics maker's stock worth $7,679,000 after acquiring an additional 28,464 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Methode Electronics by 31.4% during the fourth quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker's stock worth $6,333,000 after purchasing an additional 128,255 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Methode Electronics by 40.7% during the fourth quarter. AQR Capital Management LLC now owns 481,304 shares of the electronics maker's stock worth $5,675,000 after purchasing an additional 139,309 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Methode Electronics by 11.5% during the fourth quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker's stock worth $4,565,000 after purchasing an additional 39,894 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Price Performance

Shares of NYSE MEI traded down $0.24 during trading hours on Friday, reaching $6.32. 358,401 shares of the stock traded hands, compared to its average volume of 399,714. The company has a quick ratio of 1.57, a current ratio of 2.40 and a debt-to-equity ratio of 0.46. The company's 50-day simple moving average is $8.22 and its two-hundred day simple moving average is $8.28. The company has a market capitalization of $222.53 million, a P/E ratio of -3.55 and a beta of 1.01. Methode Electronics, Inc. has a 52-week low of $5.08 and a 52-week high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 9th. The electronics maker reported ($0.77) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.80). Methode Electronics had a negative return on equity of 5.60% and a negative net margin of 5.97%. The firm had revenue of $257,100 billion during the quarter, compared to analysts' expectations of $228.75 million. During the same period in the previous year, the company earned ($0.23) earnings per share. Equities research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Monday, July 21st will be given a dividend of $0.07 per share. The ex-dividend date is Monday, July 21st. This represents a $0.28 annualized dividend and a dividend yield of 4.4%. Methode Electronics's dividend payout ratio (DPR) is presently -15.73%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MEI. Wall Street Zen upgraded Methode Electronics from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird cut their target price on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th.

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.