American Century Companies Inc. Raises Stake in Methode Electronics, Inc. (NYSE:MEI)

American Century Companies Inc. grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 31.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 537,108 shares of the electronics maker's stock after buying an additional 128,255 shares during the period. American Century Companies Inc. owned approximately 1.51% of Methode Electronics worth $6,333,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Intech Investment Management LLC acquired a new position in shares of Methode Electronics during the third quarter worth approximately $178,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Methode Electronics by 4.5% in the 3rd 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 acquiring an additional 3,288 shares in the last quarter. Verition Fund Management LLC increased its holdings in Methode Electronics by 263.2% during the 3rd quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker's stock worth $631,000 after purchasing an additional 38,259 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Methode Electronics in the third quarter valued at approximately $254,000. Finally, Public Employees Retirement System of Ohio boosted its position in shares of Methode Electronics by 150.6% during the third quarter. Public Employees Retirement System of Ohio now owns 39,635 shares of the electronics maker's stock valued at $474,000 after buying an additional 23,820 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Activity

In related news, CEO Jonathan B. Degaynor acquired 32,733 shares of the firm'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 completion of the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lars Ullrich bought 15,150 shares of the company's stock in a transaction on Friday, March 14th. The shares were bought at an average price of $6.69 per share, with a total value 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 $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

Methode Electronics stock traded up $0.60 during trading on Wednesday, hitting $5.95. The stock had a trading volume of 546,256 shares, compared to its average volume of 503,679. The stock has a market cap of $212.36 million, a price-to-earnings ratio of -2.35 and a beta of 0.93. The stock's 50 day moving average is $8.29 and its two-hundred day moving average is $10.19. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 1 year low of $4.39 and a 1 year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The business 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 quarter in the previous year, the business earned ($0.33) EPS. As a group, analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 9.41%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics's dividend payout ratio is presently -21.46%.

Wall Street Analyst Weigh In

Several analysts have recently commented on MEI shares. Sidoti upgraded shares of 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. Robert W. Baird decreased their price target on Methode Electronics from $14.00 to $9.00 and set a "neutral" rating for the company in a research report on Friday, March 7th.

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.