Systematic Financial Management LP reduced its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 56.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,550 shares of the electronics maker's stock after selling 100,950 shares during the period. Systematic Financial Management LP owned approximately 0.22% of Methode Electronics worth $927,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Federated Hermes Inc. increased its stake in shares of Methode Electronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker's stock valued at $17,501,000 after acquiring an additional 949,616 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in Methode Electronics by 5.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker's stock valued at $13,440,000 after purchasing an additional 62,470 shares in the last quarter. Millennium Management LLC raised its holdings in Methode Electronics by 98.7% in the second quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker's stock worth $6,707,000 after purchasing an additional 321,832 shares during the period. American Century Companies Inc. boosted its position in shares of Methode Electronics by 29.5% during 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. Finally, Walleye Capital LLC grew its holdings in shares of Methode Electronics by 86.6% in the 3rd quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker's stock valued at $3,999,000 after buying an additional 155,147 shares during the period. 95.49% of the stock is owned by institutional investors.
Insider Transactions at Methode Electronics
In related news, Director David P. Blom acquired 9,320 shares of the company's stock in a transaction dated Wednesday, September 18th. The shares were bought at an average price of $10.81 per share, for a total transaction of $100,749.20. Following the purchase, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This trade represents a 33.04 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary A. Lindsey acquired 8,800 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was bought at an average cost of $11.38 per share, with a total value of $100,144.00. Following the acquisition, the director now owns 25,970 shares in the company, valued at $295,538.60. The trade was a 51.25 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
Several analysts recently commented on MEI shares. StockNews.com raised Methode Electronics from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on Methode Electronics from $13.00 to $16.00 and gave the stock a "neutral" rating in a research note on Friday.
Check Out Our Latest Analysis on Methode Electronics
Methode Electronics Trading Down 9.2 %
MEI stock traded down $1.29 during trading hours on Friday, reaching $12.73. 884,097 shares of the stock were exchanged, compared to its average volume of 363,872. The firm's 50-day moving average is $10.41 and its 200-day moving average is $10.80. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $23.41. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50.
Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same quarter in the prior year, the firm earned $0.06 earnings per share. As a group, sell-side analysts anticipate that Methode Electronics, Inc. will post -0.47 EPS for the current year.
Methode Electronics Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend was Friday, October 18th. Methode Electronics's dividend payout ratio is presently -22.13%.
Methode Electronics Company Profile
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Free Report)
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.
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