Methode Electronics, Inc. (NYSE:MEI) Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. increased its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 46.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,413,611 shares of the electronics maker's stock after purchasing an additional 446,398 shares during the period. Federated Hermes Inc. owned approximately 3.96% of Methode Electronics worth $16,666,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of MEI. Aviance Capital Partners LLC boosted its stake in Methode Electronics by 5.2% in the fourth quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker's stock valued at $667,000 after buying an additional 2,781 shares in the last quarter. AlphaQuest LLC boosted its stake in shares of Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock valued at $53,000 after purchasing an additional 2,990 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Methode Electronics by 4.5% in the third 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 buying an additional 3,288 shares during the period. Wells Fargo & Company MN raised its holdings in Methode Electronics by 25.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker's stock valued at $262,000 after buying an additional 4,574 shares during the last quarter. Finally, Empowered Funds LLC grew 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 worth $1,385,000 after acquiring an additional 5,677 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Sidoti raised shares of Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th. Robert W. Baird dropped their target price on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a report on Tuesday.

Insider Activity

In related news, CEO Jonathan B. Degaynor purchased 32,733 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were acquired at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the purchase, the chief executive officer now directly owns 32,733 shares in the company, valued at $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Lars Ullrich bought 15,150 shares of Methode Electronics stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the purchase, the senior vice president now owns 15,150 shares of the company's stock, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company's stock.

Methode Electronics Stock Performance

NYSE MEI traded down $0.05 on Tuesday, hitting $5.66. 87,516 shares of the stock traded hands, compared to its average volume of 500,108. The firm has a market capitalization of $201.83 million, a price-to-earnings ratio of -2.23 and a beta of 0.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The business's fifty day moving average is $7.97 and its two-hundred day moving average is $10.06. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results 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 company had revenue of $239.90 million during the quarter, compared to analysts' expectations of $264.01 million. During the same period in the prior year, the business earned ($0.33) earnings per share. As a group, equities analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were given a $0.14 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.56 annualized dividend and a yield of 9.90%. Methode Electronics's dividend payout ratio (DPR) is presently -21.46%.

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.