Lazard Asset Management LLC Takes Position in Methode Electronics, Inc. (NYSE:MEI)

Lazard Asset Management LLC purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 103,918 shares of the electronics maker's stock, valued at approximately $1,225,000. Lazard Asset Management LLC owned about 0.29% of Methode Electronics at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP acquired a new stake in Methode Electronics during the 4th quarter worth approximately $32,000. AlphaQuest LLC lifted its holdings in shares of Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after purchasing an additional 2,990 shares during the period. Inlight Wealth Management LLC acquired a new position in shares of Methode Electronics during the fourth quarter worth $163,000. LSV Asset Management bought a new stake in shares of Methode Electronics in the fourth quarter worth $169,000. Finally, SG Americas Securities LLC acquired a new stake in Methode Electronics in the fourth quarter valued at $209,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Transactions at Methode Electronics

In related news, CEO Jonathan B. Degaynor acquired 32,733 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the acquisition, the chief executive officer now owns 32,733 shares of the company's stock, valued at approximately $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Lars Ullrich acquired 15,150 shares of the business's stock in a transaction dated Friday, March 14th. The shares were bought at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the transaction, the senior vice president now directly owns 15,150 shares in the company, valued at approximately $101,353.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MEI. Robert W. Baird lowered their target price on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Sidoti raised Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price target for the company in a research note on Tuesday, February 25th.

Methode Electronics Stock Down 2.1%

Methode Electronics stock opened at $7.42 on Tuesday. The firm has a market cap of $264.83 million, a price-to-earnings ratio of -2.93 and a beta of 0.88. Methode Electronics, Inc. has a 52-week low of $5.08 and a 52-week high of $17.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The firm has a 50 day moving average price of $6.41 and a two-hundred day moving average price of $9.39.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the prior year, the business earned ($0.33) EPS. Equities analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently declared 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. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.55%. The ex-dividend date was Thursday, April 17th. Methode Electronics's payout ratio is -21.46%.

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.

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