Marshall Wace LLP Sells 75,917 Shares of Methode Electronics, Inc. (NYSE:MEI)

Marshall Wace LLP decreased its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 57.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 55,641 shares of the electronics maker's stock after selling 75,917 shares during the quarter. Marshall Wace LLP owned about 0.16% of Methode Electronics worth $656,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Barclays PLC lifted its holdings in Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker's stock worth $1,530,000 after buying an additional 67,656 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Methode Electronics by 176.7% during the fourth quarter. JPMorgan Chase & Co. now owns 263,381 shares of the electronics maker's stock worth $3,105,000 after purchasing an additional 168,188 shares during the last quarter. Kingsview Wealth Management LLC acquired a new position in Methode Electronics in the fourth quarter worth about $3,678,000. Geode Capital Management LLC lifted its holdings in Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker's stock worth $9,603,000 after buying an additional 20,487 shares during the last quarter. Finally, Empowered Funds LLC increased 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 valued at $1,385,000 after acquiring an additional 5,677 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MEI has been the subject of several research analyst reports. Robert W. Baird cut their price objective on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a report on Tuesday, February 25th.

Methode Electronics Stock Up 3.3 %

Shares of NYSE MEI traded up $0.21 during trading hours on Wednesday, hitting $6.58. The company had a trading volume of 278,989 shares, compared to its average volume of 496,941. The stock has a market capitalization of $234.85 million, a P/E ratio of -2.60 and a beta of 0.88. Methode Electronics, Inc. has a 1-year low of $5.08 and a 1-year high of $17.45. The firm's 50 day moving average is $6.45 and its 200-day moving average is $9.50. 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 the consensus estimate of ($0.17) by ($0.04). The company had revenue of $239.90 million during the quarter, compared to analyst estimates 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 period in the prior year, the firm earned ($0.33) earnings per share. On average, analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were given a $0.14 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 8.51%. Methode Electronics's dividend payout ratio (DPR) is currently -21.46%.

Insider Activity

In other Methode Electronics news, CEO Jonathan B. Degaynor acquired 32,733 shares of Methode Electronics stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $6.46 per share, for a total transaction of $211,455.18. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Lars Ullrich acquired 15,150 shares of the stock in a transaction that occurred 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 completion of the purchase, the senior vice president now directly owns 15,150 shares in the company, valued at $101,353.50. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

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.