JPMorgan Chase & Co. Boosts Position in Methode Electronics, Inc. (NYSE:MEI)

JPMorgan Chase & Co. boosted its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 176.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,381 shares of the electronics maker's stock after acquiring an additional 168,188 shares during the period. JPMorgan Chase & Co. owned about 0.74% of Methode Electronics worth $3,105,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of MEI. Prudential Financial Inc. purchased a new position in Methode Electronics during the 4th quarter worth approximately $1,471,000. Fox Run Management L.L.C. purchased a new stake in Methode Electronics in the 4th quarter valued at $241,000. Sei Investments Co. boosted its stake in Methode Electronics by 19.2% during the 4th quarter. Sei Investments Co. now owns 49,440 shares of the electronics maker's stock worth $583,000 after purchasing an additional 7,969 shares during the period. American Century Companies Inc. grew its position in Methode Electronics by 31.4% during the 4th quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker's stock worth $6,333,000 after purchasing an additional 128,255 shares during the last quarter. Finally, Semanteon Capital Management LP purchased a new position in Methode Electronics during the 4th quarter worth $439,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Robert W. Baird lowered their price target on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Sidoti upgraded 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 Performance

NYSE MEI traded up $0.12 during trading hours on Friday, hitting $6.39. 363,945 shares of the stock were exchanged, compared to its average volume of 497,741. Methode Electronics, Inc. has a 12-month low of $5.08 and a 12-month high of $17.45. The stock has a 50-day moving average of $7.15 and a 200 day moving average of $9.75. The company has a market cap of $227.89 million, a price-to-earnings ratio of -2.52 and a beta of 0.93. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI - Get Free Report) last announced 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 business had revenue of $239.90 million for the quarter, compared to analyst estimates 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 company earned ($0.33) EPS. As a group, equities research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 8.77%. Methode Electronics's dividend payout ratio (DPR) is presently -21.46%.

Insider Activity

In other Methode Electronics news, SVP Lars Ullrich bought 15,150 shares of the business's stock in a transaction on Friday, March 14th. The stock was bought at an average price 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. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan B. Degaynor purchased 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 transaction, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at approximately $211,455.18. The trade was 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.

About Methode Electronics

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.