Methode Electronics, Inc. (NYSE:MEI) Shares Sold by Numerai GP LLC

Numerai GP LLC reduced its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 49.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,282 shares of the electronics maker's stock after selling 101,127 shares during the period. Numerai GP LLC owned about 0.29% of Methode Electronics worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MEI. Federated Hermes Inc. boosted its position in shares of Methode Electronics by 46.2% during the fourth quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker's stock worth $16,666,000 after buying an additional 446,398 shares during the period. Kingsview Wealth Management LLC purchased a new position in shares of Methode Electronics during the fourth quarter worth $3,678,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Methode Electronics by 2,396.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker's stock worth $3,389,000 after buying an additional 275,926 shares during the period. Norges Bank purchased a new position in shares of Methode Electronics during the fourth quarter worth $2,741,000. Finally, JPMorgan Chase & Co. boosted 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 buying an additional 168,188 shares during the period. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Methode Electronics Stock Up 0.9%

NYSE:MEI traded up $0.07 during midday trading on Friday, reaching $7.60. The company had a trading volume of 176,886 shares, compared to its average volume of 491,925. The firm has a market capitalization of $271.07 million, a price-to-earnings ratio of -3.00 and a beta of 0.88. The stock's fifty day simple moving average is $6.39 and its 200-day simple moving average is $9.39. 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.

Methode Electronics (NYSE:MEI - Get Free Report) last released its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) 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 analysts' expectations of $264.01 million. During the same quarter last year, the business posted ($0.33) earnings per share. On average, sell-side analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

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

Insider Buying and Selling at Methode Electronics

In other news, SVP Lars Ullrich bought 15,150 shares of the business's stock in a transaction dated Friday, March 14th. The shares were acquired 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 of the company's stock, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 transaction, 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 position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MEI. Robert W. Baird decreased their target price 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 upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price for the company in a report on Tuesday, February 25th.

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.