Essex Investment Management Co. LLC Invests $1.45 Million in Methode Electronics, Inc. (NYSE:MEI)

Essex Investment Management Co. LLC bought a new position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 122,533 shares of the electronics maker's stock, valued at approximately $1,445,000. Essex Investment Management Co. LLC owned approximately 0.34% of Methode Electronics at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Aviance Capital Partners LLC lifted its holdings in Methode Electronics by 5.2% during the 4th quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker's stock worth $667,000 after purchasing an additional 2,781 shares in the last quarter. AlphaQuest LLC lifted its stake in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after purchasing an additional 2,990 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Methode Electronics by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker's stock valued at $909,000 after buying an additional 3,288 shares during the last quarter. Versor Investments LP increased its holdings in shares of Methode Electronics by 16.9% in the third quarter. Versor Investments LP now owns 38,100 shares of the electronics maker's stock worth $456,000 after buying an additional 5,500 shares during the period. Finally, Empowered Funds LLC lifted its position in Methode Electronics by 5.3% in the third quarter. Empowered Funds LLC now owns 111,804 shares of the electronics maker's stock valued at $1,337,000 after purchasing an additional 5,628 shares during the last quarter. Institutional investors own 95.49% of the company's stock.

Remove Ads

Methode Electronics Stock Performance

Shares of MEI stock traded up $0.35 during mid-day trading on Tuesday, reaching $6.46. 329,990 shares of the company's stock traded hands, compared to its average volume of 396,611. Methode Electronics, Inc. has a 12 month low of $5.84 and a 12 month high of $17.45. The firm has a 50 day moving average price of $11.00 and a two-hundred day moving average price of $10.88. The firm has a market capitalization of $230.34 million, a PE ratio of -2.54 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million during the quarter, compared to analysts' expectations 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 period last year, the company earned ($0.33) earnings per share. On average, research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.56 annualized dividend and a dividend yield of 8.67%. Methode Electronics's payout ratio is -21.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MEI shares. Robert W. Baird reduced their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday. Sidoti raised Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th.

Methode Electronics Company 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.