Nuveen Asset Management LLC Purchases 138,269 Shares of Methode Electronics, Inc. (NYSE:MEI)

Nuveen Asset Management LLC grew its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 93.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,196 shares of the electronics maker's stock after buying an additional 138,269 shares during the period. Nuveen Asset Management LLC owned about 0.80% of Methode Electronics worth $3,374,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in MEI. SG Americas Securities LLC bought a new stake in shares of Methode Electronics in the 4th quarter worth approximately $209,000. Kingsview Wealth Management LLC bought a new stake in shares of Methode Electronics in the 4th quarter worth approximately $3,678,000. Empowered Funds LLC lifted its holdings in shares of Methode Electronics by 5.1% in the 4th quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker's stock worth $1,385,000 after purchasing an additional 5,677 shares during the last quarter. Ieq Capital LLC bought a new stake in shares of Methode Electronics in the 4th quarter worth approximately $304,000. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Methode Electronics by 73.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 68,161 shares of the electronics maker's stock worth $804,000 after purchasing an additional 28,799 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Activity

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

Methode Electronics Stock Performance

Methode Electronics stock traded down $0.04 during mid-day trading on Thursday, hitting $7.98. 230,372 shares of the company's stock traded hands, compared to its average volume of 486,144. The firm has a 50 day moving average price of $6.71 and a 200 day moving average price of $9.22. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $284.85 million, a PE ratio of -3.15 and a beta of 0.88. Methode Electronics, Inc. has a one year low of $5.08 and a one year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million during 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 firm posted ($0.33) EPS. On average, equities analysts forecast 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. Stockholders 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 dividend on an annualized basis and a dividend yield of 7.02%. Methode Electronics's dividend payout ratio is -21.46%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MEI shares. Sidoti raised 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 cut their target price on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note 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.