Methode Electronics, Inc. (NYSE:MEI) Position Increased by Algert Global LLC

Algert Global LLC increased its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 228.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 273,551 shares of the electronics maker's stock after purchasing an additional 190,203 shares during the quarter. Algert Global LLC owned 0.78% of Methode Electronics worth $3,272,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Methode Electronics by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker's stock worth $328,000 after purchasing an additional 1,163 shares during the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Methode Electronics by 6.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker's stock valued at $233,000 after purchasing an additional 1,281 shares during the period. Quest Partners LLC raised its stake in shares of Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock valued at $125,000 after purchasing an additional 1,758 shares during the period. nVerses Capital LLC raised its stake in shares of Methode Electronics by 1,600.0% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker's stock valued at $41,000 after purchasing an additional 3,200 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in shares of Methode Electronics by 749.7% during the second quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker's stock valued at $59,000 after purchasing an additional 5,023 shares during the period. Hedge funds and other institutional investors own 95.49% of the company's stock.

Methode Electronics Stock Up 0.4 %

Shares of MEI stock traded up $0.04 during mid-day trading on Tuesday, reaching $10.73. 364,212 shares of the company were exchanged, compared to its average volume of 529,822. Methode Electronics, Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $25.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. The company has a market capitalization of $378.13 million, a P/E ratio of -2.66 and a beta of 0.76. The business's 50 day simple moving average is $10.38 and its 200 day simple moving average is $10.81.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.03). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The business had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. During the same period in the prior year, the firm earned $0.06 EPS. Research analysts predict that Methode Electronics, Inc. will post -0.68 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.22%. The ex-dividend date was Friday, October 18th. Methode Electronics's dividend payout ratio (DPR) is -13.90%.

Insider Activity

In other Methode Electronics news, Director Mary A. Lindsey purchased 8,800 shares of the business's stock in a transaction on Monday, September 23rd. The stock was bought at an average cost of $11.38 per share, with a total value of $100,144.00. Following the acquisition, the director now owns 25,970 shares of the company's stock, valued at $295,538.60. The trade was a 51.25 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Blom purchased 9,320 shares of the business's stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the acquisition, the director now directly owns 37,531 shares in the company, valued at $405,710.11. The trade was a 33.04 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a research report on Friday, September 6th.

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.