D. E. Shaw & Co. Inc. Sells 71,218 Shares of Methode Electronics, Inc. (NYSE:MEI)

D. E. Shaw & Co. Inc. reduced its stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 4.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,457,456 shares of the electronics maker's stock after selling 71,218 shares during the period. D. E. Shaw & Co. Inc. owned 4.09% of Methode Electronics worth $17,183,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Barclays PLC raised its position in Methode Electronics by 112.3% during the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker's stock worth $1,530,000 after purchasing an additional 67,656 shares during the last quarter. JPMorgan Chase & Co. raised its position in Methode Electronics by 176.7% during the 4th 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 bought a new position in shares of Methode Electronics in the 4th quarter worth about $3,678,000. Empowered Funds LLC raised its position 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 worth $1,385,000 after acquiring an additional 5,677 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Methode Electronics by 2,396.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker's stock worth $3,389,000 after acquiring an additional 275,926 shares in 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, CEO Jonathan B. Degaynor bought 32,733 shares of the business's stock in a transaction dated Tuesday, March 11th. The shares were 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 approximately $211,455.18. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lars Ullrich bought 15,150 shares of the business's stock in a transaction dated 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 directly owns 15,150 shares in the company, valued at approximately $101,353.50. 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.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Robert W. Baird lowered their price objective on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Sidoti raised Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective for the company in a research report on Tuesday, February 25th.

Methode Electronics Trading Up 0.9%

Shares of MEI stock traded up $0.07 during mid-day trading on Friday, hitting $7.60. The company's stock had a trading volume of 176,886 shares, compared to its average volume of 493,081. 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 company's fifty day simple moving average is $6.39 and its 200-day simple moving average is $9.40. The company has a market cap of $271.07 million, a PE ratio of -3.00 and a beta of 0.88. 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 issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm 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 quarter in the prior year, the business earned ($0.33) earnings per share. As a group, equities research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 7.37%. Methode Electronics's dividend payout ratio is presently -21.46%.

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.