New York State Teachers Retirement System Sells 9,804 Shares of Methode Electronics, Inc. (NYSE:MEI)

New York State Teachers Retirement System lowered its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 12.8% in the fourth quarter, Holdings Channel reports. The firm owned 66,608 shares of the electronics maker’s stock after selling 9,804 shares during the period. New York State Teachers Retirement System’s holdings in Methode Electronics were worth $1,514,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 Asset Management L.P. acquired a new position in shares of Methode Electronics during the 2nd quarter worth about $26,000. CWM LLC lifted its holdings in shares of Methode Electronics by 503.2% during the third quarter. CWM LLC now owns 1,689 shares of the electronics maker’s stock worth $39,000 after buying an additional 1,409 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Methode Electronics in the fourth quarter valued at approximately $53,000. Point72 Hong Kong Ltd acquired a new stake in shares of Methode Electronics in the second quarter worth $99,000. Finally, Tower Research Capital LLC TRC increased its position in Methode Electronics by 52.1% during the third quarter. Tower Research Capital LLC TRC now owns 3,219 shares of the electronics maker’s stock worth $120,000 after acquiring an additional 1,103 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Stock Down 0.1 %

Shares of MEI opened at $12.23 on Thursday. Methode Electronics, Inc. has a 12 month low of $11.21 and a 12 month high of $46.58. The stock has a market cap of $432.82 million, a price-to-earnings ratio of -7.46 and a beta of 0.86. The company has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $20.35. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.40.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.40). The company had revenue of $259.50 million for the quarter, compared to analyst estimates of $288.50 million. Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. During the same quarter in the prior year, the company earned $0.54 earnings per share. Equities analysts predict that Methode Electronics, Inc. will post -0.41 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.56 dividend on an annualized basis and a yield of 4.58%. Methode Electronics’s dividend payout ratio (DPR) is presently -34.15%.

Analyst Upgrades and Downgrades

MEI has been the topic of several research analyst reports. Sidoti restated a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research report on Thursday, March 7th. Jefferies Financial Group began coverage on Methode Electronics in a research note on Tuesday, April 9th. They set a “hold” rating and a $12.00 price target on the stock.

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.