Numerai GP LLC Sells 101,127 Shares of Methode Electronics, Inc. (NYSE:MEI)

Numerai GP LLC lessened its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 49.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 103,282 shares of the electronics maker's stock after selling 101,127 shares during the period. Numerai GP LLC owned 0.29% of Methode Electronics worth $1,218,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Federated Hermes Inc. raised its stake in Methode Electronics by 46.2% during the 4th 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. Ameriprise Financial Inc. lifted its holdings in shares of Methode Electronics by 4.6% in the 4th quarter. Ameriprise Financial Inc. now owns 651,283 shares of the electronics maker's stock valued at $7,679,000 after acquiring an additional 28,464 shares during the last quarter. American Century Companies Inc. boosted its stake in Methode Electronics by 31.4% in the fourth quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker's stock valued at $6,333,000 after acquiring an additional 128,255 shares in the last quarter. AQR Capital Management LLC increased its holdings in Methode Electronics by 40.7% in the fourth quarter. AQR Capital Management LLC now owns 481,304 shares of the electronics maker's stock valued at $5,675,000 after buying an additional 139,309 shares in the last quarter. Finally, Walleye Capital LLC boosted its holdings in Methode Electronics by 9.8% in the 4th quarter. Walleye Capital LLC now owns 367,095 shares of the electronics maker's stock valued at $4,328,000 after purchasing an additional 32,710 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Insider Activity at Methode Electronics

In other news, CEO Jonathan B. Degaynor purchased 32,733 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the acquisition, the chief executive officer now owns 32,733 shares of the company's stock, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Lars Ullrich bought 15,150 shares of the firm's stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, with a total value of $101,353.50. Following the transaction, 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 disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

Methode Electronics Stock Performance

Shares of MEI stock traded down $0.20 during mid-day trading on Monday, reaching $7.39. The stock had a trading volume of 42,704 shares, compared to its average volume of 491,297. Methode Electronics, Inc. has a 1-year low of $5.08 and a 1-year high of $17.45. The firm has a market cap of $263.58 million, a price-to-earnings ratio of -2.91 and a beta of 0.88. 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 business's fifty day moving average is $6.39 and its 200-day moving average is $9.40.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The company 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 quarter in the prior year, the firm earned ($0.33) EPS. On average, research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.58%. The ex-dividend date was Thursday, April 17th. Methode Electronics's payout ratio is presently -21.46%.

Analyst Ratings Changes

Several equities analysts recently commented on MEI shares. Robert W. Baird dropped their price target on shares of 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 shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

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.