Two Sigma Investments LP Acquires 39,894 Shares of Methode Electronics, Inc. (NYSE:MEI)

Two Sigma Investments LP grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 11.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 387,218 shares of the electronics maker's stock after buying an additional 39,894 shares during the quarter. Two Sigma Investments LP owned 1.09% of Methode Electronics worth $4,565,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MEI. Quarry LP acquired a new position in Methode Electronics during the 4th quarter valued at about $32,000. AlphaQuest LLC lifted its stake in Methode Electronics by 196.8% during the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock valued at $53,000 after acquiring an additional 2,990 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in Methode Electronics during the 4th quarter worth $163,000. LSV Asset Management bought a new stake in shares of Methode Electronics in the 4th quarter worth $169,000. Finally, SG Americas Securities LLC bought a new stake in shares of Methode Electronics in the 4th quarter worth $209,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on the company. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price target on the stock in a report on Tuesday, February 25th. Robert W. Baird cut their target price 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 Buying and Selling

In related news, SVP Lars Ullrich acquired 15,150 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the senior vice president now owns 15,150 shares in the company, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were 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 owns 32,733 shares of the company's stock, valued at $211,455.18. The trade was 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 insiders.

Methode Electronics Stock Performance

Shares of NYSE:MEI traded down $0.06 during trading on Friday, hitting $7.98. 228,301 shares of the company were exchanged, compared to its average volume of 488,593. The company has a market cap of $284.81 million, a PE ratio of -3.15 and a beta of 0.88. The stock has a 50 day moving average of $6.60 and a 200 day moving average of $9.25. 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 current ratio of 2.75 and a quick ratio of 1.73.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The company had revenue of $239.90 million for the quarter, compared to analysts' expectations 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 last year, the company posted ($0.33) EPS. As a group, equities research analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were paid 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 7.02%. Methode Electronics's dividend payout ratio is currently -21.46%.

Methode Electronics Company 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.