JPMorgan Chase & Co. Lowers Stock Position in Methode Electronics, Inc. (NYSE:MEI)

JPMorgan Chase & Co. decreased its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 70.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 95,193 shares of the electronics maker's stock after selling 228,127 shares during the quarter. JPMorgan Chase & Co. owned about 0.27% of Methode Electronics worth $1,139,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its holdings in Methode Electronics by 29.5% in the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker's stock worth $3,469,000 after purchasing an additional 76,391 shares in the last quarter. Hsbc Holdings PLC raised its holdings in Methode Electronics by 58.8% in the second quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker's stock worth $361,000 after purchasing an additional 13,014 shares in the last quarter. Sei Investments Co. raised its holdings in Methode Electronics by 64.9% in the second quarter. Sei Investments Co. now owns 34,571 shares of the electronics maker's stock worth $358,000 after purchasing an additional 13,600 shares in the last quarter. Ensign Peak Advisors Inc raised its holdings in Methode Electronics by 66.8% in the second quarter. Ensign Peak Advisors Inc now owns 25,341 shares of the electronics maker's stock worth $262,000 after purchasing an additional 10,150 shares in the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Methode Electronics by 51.0% during the second quarter. Bank of Montreal Can now owns 88,510 shares of the electronics maker's stock valued at $863,000 after acquiring an additional 29,907 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

Separately, Robert W. Baird raised their price target on Methode Electronics from $13.00 to $16.00 and gave the company a "neutral" rating in a report on Friday, December 6th.

Methode Electronics Stock Performance

Shares of Methode Electronics stock traded up $0.17 during trading on Friday, hitting $13.18. 267,208 shares of the company's stock traded hands, compared to its average volume of 363,858. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $22.20. The stock has a market capitalization of $469.82 million, a P/E ratio of -5.21 and a beta of 0.78. The business has a 50-day simple moving average of $11.80 and a 200-day simple moving average of $11.19.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping 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 business earned $0.06 EPS. As a group, analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 17th will be given a $0.14 dividend. The ex-dividend date is Friday, January 17th. This represents a $0.56 annualized dividend and a yield of 4.25%. Methode Electronics's payout ratio is -22.13%.

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.