Point72 Asia Singapore Pte. Ltd. Invests $584,000 in Methode Electronics, Inc. (NYSE:MEI)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Methode Electronics, Inc. (NYSE:MEI) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,377 shares of the electronics maker’s stock, valued at approximately $584,000. Point72 Asia Singapore Pte. Ltd. owned approximately 0.16% of Methode Electronics as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Quadrant Capital Group LLC increased its position in shares of Methode Electronics by 512.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 1,014 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Methode Electronics by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 1,163 shares during the last quarter. SummerHaven Investment Management LLC boosted its holdings in Methode Electronics by 6.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock worth $233,000 after purchasing an additional 1,281 shares during the last quarter. Quest Partners LLC boosted its holdings in Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock worth $125,000 after purchasing an additional 1,758 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in Methode Electronics by 5.3% during the first quarter. New York State Teachers Retirement System now owns 70,162 shares of the electronics maker’s stock worth $855,000 after purchasing an additional 3,554 shares during the last quarter. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Performance

NYSE MEI opened at $11.16 on Thursday. The firm has a 50-day moving average of $11.04 and a 200-day moving average of $11.39. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. The stock has a market cap of $393.28 million, a PE ratio of -3.20 and a beta of 0.72. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $26.02.

Methode Electronics (NYSE:MEI) last released its quarterly 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). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same period in the prior year, the business posted $0.06 earnings per share. On average, sell-side analysts anticipate that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.02%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics’s dividend payout ratio is currently -16.05%.

Insider Buying and Selling at Methode Electronics

In related news, Director Mary A. Lindsey purchased 8,800 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $295,538.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mary A. Lindsey purchased 8,800 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were 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 of the company’s stock, valued at approximately $295,538.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Blom purchased 9,320 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the acquisition, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. The disclosure for this purchase can be found here. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on MEI. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird cut their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 6th.

Methode Electronics 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.