253,000 Shares in Methode Electronics, Inc. (NYSE:MEI) Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 253,000 shares of the electronics maker's stock, valued at approximately $2,619,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.71% of Methode Electronics as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of MEI. Point72 Asset Management L.P. boosted its position in shares of Methode Electronics by 150.0% during the second quarter. Point72 Asset Management L.P. now owns 19,000 shares of the electronics maker's stock valued at $197,000 after buying an additional 11,400 shares during the last quarter. Algert Global LLC purchased a new stake in shares of Methode Electronics during the second quarter valued at $863,000. Millennium Management LLC boosted its position in shares of Methode Electronics by 98.7% during the second quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker's stock valued at $6,707,000 after buying an additional 321,832 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Methode Electronics by 124.1% during the second quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker's stock valued at $2,331,000 after buying an additional 124,677 shares during the last quarter. Finally, AXA S.A. purchased a new stake in shares of Methode Electronics during the second quarter valued at $871,000. 95.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MEI. Robert W. Baird lowered their price target on Methode Electronics from $15.00 to $13.00 and set a "neutral" rating on the stock in a report on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a report on Friday, September 6th.

Insiders Place Their Bets

In other news, Director Mary A. Lindsey acquired 8,800 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mary A. Lindsey acquired 8,800 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was acquired at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction that occurred on Wednesday, September 18th. The stock was bought at an average cost 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 $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 insiders.

Methode Electronics Price Performance

MEI traded down $0.59 during trading hours on Monday, hitting $10.49. The company's stock had a trading volume of 386,794 shares, compared to its average volume of 554,210. The business's 50-day moving average price is $10.80 and its 200-day moving average price is $11.33. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $26.02. The stock has a market cap of $371.24 million, a price-to-earnings ratio of -3.01 and a beta of 0.72. 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 announced its 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 company had revenue of $258.50 million during the quarter, compared to analysts' expectations 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 firm posted $0.06 EPS. Sell-side analysts expect that Methode Electronics, Inc. will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.34%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics's 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.