Prudential Financial Inc. Acquires Shares of 124,776 Methode Electronics, Inc. (NYSE:MEI)

Prudential Financial Inc. purchased a new position in Methode Electronics, Inc. (NYSE:MEI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 124,776 shares of the electronics maker's stock, valued at approximately $1,471,000. Prudential Financial Inc. owned approximately 0.35% of Methode Electronics at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MEI. Aviance Capital Partners LLC lifted its holdings in shares of Methode Electronics by 5.2% during the fourth quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker's stock worth $667,000 after buying an additional 2,781 shares during the last quarter. AlphaQuest LLC lifted its holdings in shares of Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after buying an additional 2,990 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Methode Electronics by 4.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker's stock worth $909,000 after buying an additional 3,288 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Methode Electronics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker's stock worth $1,385,000 after buying an additional 5,677 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in shares of Methode Electronics by 19.2% during the fourth quarter. Sei Investments Co. now owns 49,440 shares of the electronics maker's stock worth $583,000 after buying an additional 7,969 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Robert W. Baird lowered their price target on Methode Electronics from $14.00 to $9.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th.

Insider Buying and Selling at Methode Electronics

In other news, CEO Jonathan B. Degaynor acquired 32,733 shares of Methode Electronics stock in a transaction that occurred on Tuesday, March 11th. The shares were acquired at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the transaction, the chief executive officer now directly owns 32,733 shares of the company's stock, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the transaction, the senior vice president now directly owns 15,150 shares in the company, valued at $101,353.50. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company's stock.

Methode Electronics Trading Down 3.9 %

NYSE:MEI traded down $0.23 during mid-day trading on Thursday, hitting $5.73. The company had a trading volume of 29,512 shares, compared to its average volume of 501,831. The firm has a market cap of $204.51 million, a P/E ratio of -2.26 and a beta of 0.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The business's fifty day moving average is $8.29 and its two-hundred day moving average is $10.19. Methode Electronics, Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the previous year, the business posted ($0.33) earnings per share. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 annualized dividend and a yield of 9.77%. Methode Electronics's dividend payout ratio is presently -21.46%.

Methode Electronics Company 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.