Algert Global LLC Makes New $863,000 Investment in Methode Electronics, Inc. (NYSE:MEI)

Algert Global LLC purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 83,348 shares of the electronics maker's stock, valued at approximately $863,000. Algert Global LLC owned 0.24% of Methode Electronics as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of MEI. Invenomic Capital Management LP purchased a new position in shares of Methode Electronics in the 4th quarter valued at $2,231,000. Caxton Associates LP raised its stake in shares of Methode Electronics by 41.4% in the 4th quarter. Caxton Associates LP now owns 75,518 shares of the electronics maker's stock valued at $1,717,000 after acquiring an additional 22,129 shares during the period. Bridge City Capital LLC raised its stake in shares of Methode Electronics by 57.7% in the 1st quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker's stock valued at $2,992,000 after acquiring an additional 89,902 shares during the period. Counterpoint Mutual Funds LLC purchased a new position in shares of Methode Electronics in the 1st quarter valued at $176,000. Finally, Aviance Capital Partners LLC raised its stake in shares of Methode Electronics by 13.5% in the 1st quarter. Aviance Capital Partners LLC now owns 30,248 shares of the electronics maker's stock valued at $368,000 after acquiring an additional 3,593 shares during the period. Hedge funds and other institutional investors own 95.49% of the company's stock.

Insiders Place Their Bets

In other Methode Electronics news, Director Mary A. Lindsey purchased 8,800 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was acquired 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 of the company's stock, valued at approximately $295,538.60. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Mary A. Lindsey bought 8,800 shares of Methode Electronics stock in a transaction on Monday, September 23rd. The stock was purchased at an average cost of $11.38 per share, with a total value of $100,144.00. Following 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 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Blom bought 9,320 shares of Methode Electronics stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the purchase, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on MEI shares. Robert W. Baird dropped their price target on shares of Methode Electronics from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a research note on Friday, September 6th.

Methode Electronics Stock Up 1.8 %

Methode Electronics stock traded up $0.20 during midday trading on Friday, hitting $11.08. 231,048 shares of the stock were exchanged, compared to its average volume of 554,991. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $26.02. The firm has a market cap of $392.12 million, a P/E ratio of -3.17 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The company has a 50 day moving average price of $10.80 and a two-hundred day moving average price of $11.34.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). The company had revenue of $258.50 million for the quarter, compared to analyst estimates 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 period in the prior year, the business earned $0.06 earnings per share. On average, sell-side analysts predict that Methode Electronics, Inc. will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.05%. The ex-dividend date is Friday, October 18th. Methode Electronics's dividend payout ratio is currently -16.05%.

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.