Methode Electronics, Inc. (NYSE:MEI) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 2,396.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,440 shares of the electronics maker's stock after acquiring an additional 275,926 shares during the period. Arrowstreet Capital Limited Partnership owned 0.81% of Methode Electronics worth $3,389,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. AlphaQuest LLC lifted its position in Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after buying an additional 2,990 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Methode Electronics during the 4th quarter worth $126,000. SG Americas Securities LLC purchased a new position in shares of Methode Electronics during the 4th quarter worth $209,000. Inceptionr LLC acquired a new position in shares of Methode Electronics during the 4th quarter valued at about $222,000. Finally, Fox Run Management L.L.C. acquired a new stake in Methode Electronics during the fourth quarter worth about $241,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MEI shares. Sidoti upgraded shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price target for the company in a report on Tuesday, February 25th. Robert W. Baird cut their target price on Methode Electronics from $14.00 to $9.00 and set a "neutral" rating for the company in a research note on Friday, March 7th.

Insider Activity at Methode Electronics

In other Methode Electronics news, CEO Jonathan B. Degaynor purchased 32,733 shares of the business's stock in a transaction 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 purchase, the chief executive officer now directly owns 32,733 shares in the company, valued at approximately $211,455.18. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Lars Ullrich acquired 15,150 shares of the stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost 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 in the company, valued at approximately $101,353.50. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Methode Electronics Trading Up 1.0 %

Shares of MEI traded up $0.06 during trading on Monday, reaching $5.78. 8,035 shares of the company traded hands, compared to its average volume of 429,728. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The stock has a market cap of $206.29 million, a PE ratio of -2.28 and a beta of 0.93. The stock has a 50-day simple moving average of $8.08 and a 200-day simple moving average of $10.10. Methode Electronics, Inc. has a twelve month low of $5.08 and a twelve month high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. The firm had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. During the same period in the previous year, the firm posted ($0.33) earnings per share. On average, analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 9.69%. The ex-dividend date was Thursday, April 17th. Methode Electronics's payout ratio is currently -21.46%.

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.