Methode Electronics, Inc. (NYSE:MEI) Shares Purchased by Sei Investments Co.

Sei Investments Co. raised its stake in Methode Electronics, Inc. (NYSE:MEI) by 19.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,440 shares of the electronics maker’s stock after acquiring an additional 7,969 shares during the period. Sei Investments Co. owned 0.14% of Methode Electronics worth $583,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. AlphaQuest LLC grew its stake in Methode Electronics by 196.8% during the 4th 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. Diversified Trust Co bought a new position in shares of Methode Electronics during the fourth quarter worth about $126,000. SG Americas Securities LLC bought a new position in shares of Methode Electronics during the fourth quarter worth about $209,000. Inceptionr LLC acquired a new stake in shares of Methode Electronics in the 4th quarter worth about $222,000. Finally, XTX Topco Ltd bought a new stake in Methode Electronics in the 3rd quarter valued at about $254,000. 95.49% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction dated Friday, March 14th. The stock was acquired at an average cost of $6.69 per share, with a total value of $101,353.50. Following the purchase, 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 position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the transaction, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

Methode Electronics Stock Up 11.2 %

MEI opened at $5.95 on Thursday. 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 company has a market capitalization of $212.36 million, a PE ratio of -2.35 and a beta of 0.93. The stock’s fifty day moving average is $8.29 and its 200-day moving average is $10.19. Methode Electronics, Inc. has a one year low of $5.08 and a one year high of $17.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million during the quarter, compared to the consensus estimate of $264.01 million. During the same quarter last year, the firm posted ($0.33) earnings per share. On average, equities analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 9.41%. The ex-dividend date was Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Analyst Ratings Changes

Several research firms have commented on MEI. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, February 25th. Robert W. Baird reduced their price target on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a research note on Friday, March 7th.

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.