Jane Street Group LLC Has $3.83 Million Stake in Methode Electronics, Inc. (NYSE:MEI)

Jane Street Group LLC lessened its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 16.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 320,290 shares of the electronics maker's stock after selling 61,581 shares during the period. Jane Street Group LLC owned 0.91% of Methode Electronics worth $3,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Methode Electronics by 749.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker's stock valued at $59,000 after purchasing an additional 5,023 shares during the period. Hennessy Advisors Inc. bought a new position in Methode Electronics in the 2nd quarter valued at about $111,000. SummerHaven Investment Management LLC lifted its position in Methode Electronics by 6.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker's stock worth $233,000 after acquiring an additional 1,281 shares during the last quarter. Versor Investments LP bought a new stake in shares of Methode Electronics during the second quarter worth approximately $337,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Methode Electronics during the second quarter worth approximately $149,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Methode Electronics Price Performance

Shares of NYSE MEI traded up $0.16 during midday trading on Thursday, reaching $12.25. The company's stock had a trading volume of 351,639 shares, compared to its average volume of 530,854. 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 company has a market cap of $436.80 million, a P/E ratio of -4.84 and a beta of 0.81. The business's 50 day moving average price is $10.74 and its two-hundred day moving average price is $10.86. Methode Electronics, Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $23.41.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the firm posted $0.06 earnings per share. On average, analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.57%. Methode Electronics's payout ratio is -22.13%.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of the business's stock in a transaction on Monday, September 23rd. The stock was purchased at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares of the company's stock, valued at approximately $295,538.60. This trade represents a 51.25 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MEI shares. Robert W. Baird lifted their price target on Methode Electronics from $13.00 to $16.00 and gave the stock a "neutral" rating in a report on Friday, December 6th. StockNews.com raised Methode Electronics from a "sell" rating to a "hold" rating in a report on Friday, September 6th.

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.