Los Angeles Capital Management LLC Invests $1.47 Million in Methode Electronics, Inc. (NYSE:MEI)

Los Angeles Capital Management LLC acquired a new position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 122,616 shares of the electronics maker's stock, valued at approximately $1,466,000. Los Angeles Capital Management LLC owned approximately 0.35% of Methode Electronics at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. Pinnacle Associates Ltd. bought a new position in shares of Methode Electronics in the 3rd quarter worth $132,000. Nisa Investment Advisors LLC lifted its stake in shares of Methode Electronics by 524.6% in the third quarter. Nisa Investment Advisors LLC now owns 35,560 shares of the electronics maker's stock valued at $425,000 after buying an additional 29,867 shares in the last quarter. nVerses Capital LLC grew its holdings in shares of Methode Electronics by 1,600.0% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker's stock valued at $41,000 after buying an additional 3,200 shares during the last quarter. Creative Planning increased its position in shares of Methode Electronics by 209.8% during the third quarter. Creative Planning now owns 53,529 shares of the electronics maker's stock worth $640,000 after acquiring an additional 36,251 shares in the last quarter. Finally, CWM LLC raised its holdings in shares of Methode Electronics by 685.1% in the 3rd quarter. CWM LLC now owns 8,730 shares of the electronics maker's stock worth $104,000 after acquiring an additional 7,618 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Down 5.1 %

MEI stock traded down $0.50 during trading on Friday, reaching $9.22. The stock had a trading volume of 135,228 shares, compared to its average volume of 530,456. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $25.34. The company's 50 day moving average is $10.43 and its two-hundred day moving average is $10.94. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.03). The business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same quarter last year, the business posted $0.06 earnings per share. On average, analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.56 annualized dividend and a yield of 6.07%. Methode Electronics's payout ratio is currently -13.90%.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com raised Methode Electronics from a "sell" rating to a "hold" rating in a report on Friday, September 6th. Robert W. Baird lowered their price target on Methode Electronics from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Friday, September 6th.

Insider Buying and Selling

In other news, Director David P. Blom acquired 9,320 shares of Methode Electronics stock in a transaction 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 acquisition, the director now owns 37,531 shares in the company, valued at approximately $405,710.11. This trade represents a 33.04 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate 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.