Charles Schwab Investment Management Inc. Sells 99,275 Shares of Methode Electronics, Inc. (NYSE:MEI)

Charles Schwab Investment Management Inc. cut its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 17.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 461,799 shares of the electronics maker's stock after selling 99,275 shares during the period. Charles Schwab Investment Management Inc. owned 1.31% of Methode Electronics worth $5,523,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MEI. Federated Hermes Inc. grew its stake in shares of Methode Electronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker's stock worth $17,501,000 after purchasing an additional 949,616 shares in the last quarter. Millennium Management LLC grew its position in Methode Electronics by 98.7% in the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker's stock valued at $6,707,000 after buying an additional 321,832 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Methode Electronics during the 2nd quarter valued at about $2,619,000. AQR Capital Management LLC raised its position in shares of Methode Electronics by 124.1% during the 2nd quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker's stock worth $2,331,000 after buying an additional 124,677 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in shares of Methode Electronics by 249.7% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 174,179 shares of the electronics maker's stock worth $1,803,000 after acquiring an additional 124,367 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MEI has been the subject of a number of research analyst reports. StockNews.com upgraded Methode Electronics from a "sell" rating to a "hold" rating in a research report on Friday, September 6th. Robert W. Baird lifted their target price on Methode Electronics from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, December 6th.

Methode Electronics Stock Performance

Shares of MEI remained flat at $13.12 during trading hours on Friday. The stock had a trading volume of 204,500 shares, compared to its average volume of 533,031. The business's 50 day moving average is $10.54 and its two-hundred day moving average is $10.83. 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 $8.54 and a 1-year high of $23.41.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, beating analysts' consensus estimates of ($0.17) by $0.31. 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 business posted $0.06 earnings per share. As a group, equities analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Insider Transactions at Methode Electronics

In other Methode Electronics news, Director Mary A. Lindsey purchased 8,800 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the acquisition, the director now owns 25,970 shares of the company's stock, valued at $295,538.60. This represents a 51.25 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David P. Blom acquired 9,320 shares of Methode Electronics stock in a transaction that occurred 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 purchase, the director now owns 37,531 shares in the company, valued at approximately $405,710.11. This represents a 33.04 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Methode Electronics 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.