Heartland Advisors Inc. Boosts Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Heartland Advisors Inc. raised its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 256,295 shares of the electronics maker's stock after buying an additional 73,715 shares during the quarter. Heartland Advisors Inc. owned about 0.72% of Methode Electronics worth $6,098,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in Methode Electronics by 295.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker's stock valued at $62,000 after acquiring an additional 2,025 shares during the last quarter. International Assets Investment Management LLC boosted its position in shares of Methode Electronics by 2,182.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,866 shares of the electronics maker's stock worth $133,000 after purchasing an additional 5,609 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Methode Electronics by 31.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,956 shares of the electronics maker's stock worth $182,000 after buying an additional 1,899 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Methode Electronics by 30.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,809 shares of the electronics maker's stock worth $224,000 after buying an additional 2,283 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new position in Methode Electronics during the 3rd quarter valued at about $229,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MEI shares. Sidoti restated a "neutral" rating and set a $17.00 price target on shares of Methode Electronics in a research note on Thursday, March 7th. Jefferies Financial Group assumed coverage on shares of Methode Electronics in a research note on Tuesday, April 9th. They set a "hold" rating and a $12.00 price target on the stock.

Methode Electronics Stock Performance

Shares of NYSE:MEI traded up $0.09 during trading on Friday, hitting $12.36. The stock had a trading volume of 203,718 shares, compared to its average volume of 488,892. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 12-month low of $10.83 and a 12-month high of $46.58. The stock has a market capitalization of $437.42 million, a price-to-earnings ratio of -7.54 and a beta of 0.84. The stock has a 50-day simple moving average of $12.12 and a two-hundred day simple moving average of $18.56.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.40). The business had revenue of $259.50 million during the quarter, compared to analysts' expectations of $288.50 million. Methode Electronics had a negative net margin of 5.09% and a positive return on equity of 0.07%. During the same period last year, the company earned $0.54 earnings per share. On average, equities research analysts expect that Methode Electronics, Inc. will post -0.41 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.56 annualized dividend and a dividend yield of 4.53%. Methode Electronics's dividend payout ratio (DPR) is presently -34.15%.

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.