Alliancebernstein L.P. Has $399,000 Stake in Methode Electronics, Inc. (NYSE:MEI)

Alliancebernstein L.P. reduced its holdings in Methode Electronics, Inc. (NYSE:MEI) by 28.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,869 shares of the electronics maker’s stock after selling 13,796 shares during the quarter. Alliancebernstein L.P. owned 0.09% of Methode Electronics worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Geode Capital Management LLC increased its stake in Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after purchasing an additional 20,487 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Methode Electronics by 31.4% in 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 during the period. Bank of New York Mellon Corp increased its position in shares of Methode Electronics by 15.3% during the fourth quarter. Bank of New York Mellon Corp now owns 312,251 shares of the electronics maker’s stock worth $3,681,000 after acquiring an additional 41,387 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Methode Electronics during the fourth quarter worth $3,678,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in Methode Electronics by 2,396.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker’s stock valued at $3,389,000 after acquiring an additional 275,926 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analyst Upgrades and Downgrades

MEI has been the subject of a number of research reports. Robert W. Baird lowered their target price on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, February 25th.

Insider Buying and Selling at Methode Electronics

In related news, SVP Lars Ullrich acquired 15,150 shares of the business’s stock in a transaction on Friday, March 14th. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the transaction, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan B. Degaynor purchased 32,733 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $6.46 per share, with a total value of $211,455.18. Following the completion of the acquisition, the chief executive officer now owns 32,733 shares in the company, valued at $211,455.18. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Methode Electronics Stock Up 0.9 %

Methode Electronics stock opened at $5.69 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. Methode Electronics, Inc. has a 1-year low of $5.08 and a 1-year high of $17.45. The company has a fifty day simple moving average of $7.59 and a 200 day simple moving average of $9.90. The company has a market cap of $203.01 million, a P/E ratio of -2.25 and a beta of 0.93.

Methode Electronics (NYSE:MEI) last released its earnings results 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 during the quarter, compared to analyst estimates of $264.01 million. During the same period in the prior year, the firm posted ($0.33) EPS. Research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 9.85%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics’s dividend payout ratio (DPR) is currently -21.46%.

About Methode Electronics

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.