Bank of New York Mellon Corp Increases Stake in Methode Electronics, Inc. (NYSE:MEI)

Bank of New York Mellon Corp raised its stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 312,251 shares of the electronics maker's stock after purchasing an additional 41,387 shares during the quarter. Bank of New York Mellon Corp owned 0.88% of Methode Electronics worth $3,681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd lifted its holdings in shares of Methode Electronics by 73.2% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 68,161 shares of the electronics maker's stock worth $804,000 after acquiring an additional 28,799 shares during the last quarter. Ieq Capital LLC bought a new stake in Methode Electronics during the 4th quarter valued at $304,000. Empowered Funds LLC raised its holdings in Methode Electronics by 5.1% during the 4th quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker's stock valued at $1,385,000 after buying an additional 5,677 shares during the last quarter. Kingsview Wealth Management LLC bought a new stake in Methode Electronics during the 4th quarter valued at $3,678,000. Finally, SG Americas Securities LLC bought a new stake in Methode Electronics during the 4th quarter valued at $209,000. 95.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, SVP Lars Ullrich bought 15,150 shares of Methode Electronics stock in a transaction dated Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, with a total value of $101,353.50. Following the transaction, the senior vice president now directly owns 15,150 shares of the company's stock, valued at $101,353.50. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan B. Degaynor bought 32,733 shares of Methode Electronics stock in a transaction dated Tuesday, March 11th. The stock was acquired 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 directly 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 disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. 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 lowered their price target on shares of Methode Electronics from $14.00 to $9.00 and set a "neutral" rating for the company in a report on Friday, March 7th.

Methode Electronics Trading Down 0.9 %

Methode Electronics stock traded down $0.06 during mid-day trading on Friday, reaching $6.71. 684,752 shares of the company traded hands, compared to its average volume of 486,559. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. The firm's 50 day moving average price is $10.08 and its 200 day moving average price is $10.63. The firm has a market capitalization of $239.49 million, a price-to-earnings ratio of -2.65 and a beta of 0.77. Methode Electronics, Inc. has a 52-week low of $5.84 and a 52-week 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 (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The company had revenue of $239.90 million for the quarter, compared to analysts' expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. 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 fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Shareholders of record on Friday, April 18th will be given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 8.35%. The ex-dividend date of this dividend is Thursday, April 17th. Methode Electronics's payout ratio is currently -21.46%.

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.