Millennium Management LLC Has $5.48 Million Stake in Methode Electronics, Inc. (NYSE:MEI)

Millennium Management LLC reduced its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 48.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 464,509 shares of the electronics maker's stock after selling 444,128 shares during the quarter. Millennium Management LLC owned about 1.30% of Methode Electronics worth $5,477,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MEI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Methode Electronics by 8.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,139 shares of the electronics maker's stock valued at $237,000 after acquiring an additional 1,513 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Methode Electronics during the 4th quarter valued at $1,225,000. Jacobs Levy Equity Management Inc. increased its stake in shares of Methode Electronics by 16.1% in 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 acquiring an additional 18,885 shares during the last quarter. Graham Capital Management L.P. increased its stake in shares of Methode Electronics by 220.2% in the 4th quarter. Graham Capital Management L.P. now owns 49,679 shares of the electronics maker's stock valued at $586,000 after acquiring an additional 34,165 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Methode Electronics by 4.4% in the 4th quarter. Deutsche Bank AG now owns 274,108 shares of the electronics maker's stock valued at $3,232,000 after acquiring an additional 11,439 shares during the last quarter. 95.49% of the stock is owned by institutional investors.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, SVP Lars Ullrich purchased 15,150 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was bought at an average cost of $6.69 per share, with a total value of $101,353.50. Following the purchase, the senior vice president now directly 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 can be accessed through this link. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of the stock in a transaction dated Tuesday, March 11th. The stock was acquired 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 directly 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. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. 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. Robert W. Baird lowered their price target 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.

Methode Electronics Trading Down 1.0%

Shares of MEI stock traded down $0.08 on Monday, reaching $7.87. The company had a trading volume of 210,546 shares, compared to its average volume of 487,481. The company has a 50-day moving average of $6.62 and a 200-day moving average of $9.24. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a market cap of $280.89 million, a PE ratio of -3.11 and a beta of 0.88.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly 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). Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. The company had revenue of $239.90 million during the quarter, compared to the consensus estimate of $264.01 million. During the same period in the previous year, the firm posted ($0.33) EPS. On average, equities analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently announced 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 yield of 7.12%. The ex-dividend date was Thursday, April 17th. Methode Electronics's dividend payout ratio (DPR) is presently -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.