103,918 Shares in Methode Electronics, Inc. (NYSE:MEI) Bought by Lazard Asset Management LLC

Lazard Asset Management LLC acquired a new stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 103,918 shares of the electronics maker's stock, valued at approximately $1,225,000. Lazard Asset Management LLC owned approximately 0.29% of Methode Electronics at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Jacobs Levy Equity Management Inc. raised its holdings in shares of Methode Electronics by 16.1% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 136,314 shares of the electronics maker's stock valued at $1,607,000 after buying an additional 18,885 shares during the period. Graham Capital Management L.P. raised its holdings in shares of Methode Electronics by 220.2% during the 4th quarter. Graham Capital Management L.P. now owns 49,679 shares of the electronics maker's stock valued at $586,000 after buying an additional 34,165 shares during the period. Deutsche Bank AG raised its holdings in shares of Methode Electronics by 4.4% during the 4th quarter. Deutsche Bank AG now owns 274,108 shares of the electronics maker's stock valued at $3,232,000 after buying an additional 11,439 shares during the period. Corton Capital Inc. raised its holdings in shares of Methode Electronics by 20.5% during the 4th quarter. Corton Capital Inc. now owns 37,889 shares of the electronics maker's stock valued at $447,000 after buying an additional 6,442 shares during the period. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Methode Electronics by 4.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 133,481 shares of the electronics maker's stock valued at $1,574,000 after buying an additional 5,677 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th. Robert W. Baird dropped 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 Stock Up 1.4%

MEI stock traded up $0.11 during midday trading on Friday, hitting $7.48. 247,202 shares of the company's stock were exchanged, compared to its average volume of 491,121. 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 12-month low of $5.08 and a 12-month high of $17.45. The firm has a 50 day moving average price of $6.49 and a 200-day moving average price of $9.32. The stock has a market capitalization of $266.83 million, a price-to-earnings ratio of -2.95 and a beta of 0.88.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data 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 quarter in the prior year, the firm earned ($0.33) earnings per share. On average, analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were issued a dividend of $0.14 per share. The ex-dividend date was Thursday, April 17th. This represents a $0.56 annualized dividend and a yield of 7.49%. Methode Electronics's dividend payout ratio is presently -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.