Methode Electronics, Inc. (NYSE:MEI) Shares Purchased by Two Sigma Investments LP

Two Sigma Investments LP lifted its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 11.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 387,218 shares of the electronics maker's stock after purchasing an additional 39,894 shares during the quarter. Two Sigma Investments LP owned about 1.09% of Methode Electronics worth $4,565,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Federated Hermes Inc. boosted its position in shares of Methode Electronics by 46.2% in the 4th 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 in the last quarter. Ameriprise Financial Inc. raised its stake in Methode Electronics by 4.6% in the 4th 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 during the last quarter. American Century Companies Inc. raised its stake in Methode Electronics by 31.4% in the 4th quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker's stock worth $6,333,000 after acquiring an additional 128,255 shares during the last quarter. AQR Capital Management LLC raised its stake in Methode Electronics by 40.7% in the 4th quarter. AQR Capital Management LLC now owns 481,304 shares of the electronics maker's stock worth $5,675,000 after acquiring an additional 139,309 shares during the last quarter. Finally, Walleye Capital LLC raised its stake in Methode Electronics by 9.8% in the 4th quarter. Walleye Capital LLC now owns 367,095 shares of the electronics maker's stock worth $4,328,000 after acquiring an additional 32,710 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Buying and Selling at Methode Electronics

In related news, SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction on Friday, March 14th. The stock was acquired 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 owns 15,150 shares of the company's stock, valued at approximately $101,353.50. This represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of Methode Electronics 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 purchase, 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. Company insiders own 1.40% of the company's stock.

Methode Electronics Stock Performance

MEI stock traded down $0.06 during midday trading on Friday, reaching $7.98. The stock had a trading volume of 228,301 shares, compared to its average volume of 488,872. The stock has a market cap of $284.81 million, a PE ratio of -3.15 and a beta of 0.88. 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 fifty day simple moving average of $6.60 and a two-hundred day simple moving average of $9.26. 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 released its quarterly earnings data 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 company had revenue of $239.90 million for the quarter, compared to analysts' expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter in the previous year, the business posted ($0.33) EPS. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 7.02%. Methode Electronics's payout ratio is currently -21.46%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Robert W. Baird reduced their target price on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a research note on Tuesday, February 25th.

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.