Vanguard Group Inc. Trims Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Vanguard Group Inc. cut its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 1.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,845,307 shares of the electronics maker’s stock after selling 55,135 shares during the quarter. Vanguard Group Inc. owned approximately 7.98% of Methode Electronics worth $33,546,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Kingsview Wealth Management LLC bought a new position in shares of Methode Electronics during the fourth quarter worth about $3,678,000. American Century Companies Inc. raised its stake in Methode Electronics by 31.4% during the fourth quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker’s stock valued at $6,333,000 after buying an additional 128,255 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in Methode Electronics during the 4th quarter worth approximately $1,445,000. Barclays PLC grew its position in shares of Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after acquiring an additional 67,656 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Methode Electronics by 15.3% in the 4th quarter. Bank of New York Mellon Corp now owns 312,251 shares of the electronics maker’s stock valued at $3,681,000 after acquiring an additional 41,387 shares during the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Methode Electronics news, SVP Lars Ullrich purchased 15,150 shares of Methode Electronics stock in a transaction on Friday, March 14th. The stock was bought 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 owns 15,150 shares of the company’s stock, valued at $101,353.50. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jonathan B. Degaynor purchased 32,733 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $6.46 per share, with a total value of $211,455.18. Following the purchase, the chief executive officer now owns 32,733 shares of the company’s stock, valued at approximately $211,455.18. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MEI. Sidoti upgraded Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note 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 on the stock in a research report on Friday, March 7th.

Methode Electronics Stock Down 0.3 %

NYSE:MEI opened at $5.71 on Monday. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $8.08 and a 200-day moving average of $10.10. The firm has a market capitalization of $203.87 million, a PE ratio of -2.26 and a beta of 0.93. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45.

Methode Electronics (NYSE:MEI) last released 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). Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. The company had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. Analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 9.80%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics’s payout ratio is -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.