JPMorgan Chase & Co. Has $3.11 Million Holdings in Methode Electronics, Inc. (NYSE:MEI)

JPMorgan Chase & Co. boosted its stake in Methode Electronics, Inc. (NYSE:MEI) by 176.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,381 shares of the electronics maker’s stock after purchasing an additional 168,188 shares during the period. JPMorgan Chase & Co. owned about 0.74% of Methode Electronics worth $3,105,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Methode Electronics by 2.6% in the third quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after acquiring an additional 20,487 shares during the period. American Century Companies Inc. grew its stake in shares of Methode Electronics by 31.4% in the 4th quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker’s stock worth $6,333,000 after acquiring an additional 128,255 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in 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 during the period. Kingsview Wealth Management LLC bought a new position in shares of Methode Electronics during the 4th quarter valued at approximately $3,678,000. Finally, Los Angeles Capital Management LLC raised its stake in Methode Electronics by 22.2% in the 4th quarter. Los Angeles Capital Management LLC now owns 149,826 shares of the electronics maker’s stock valued at $1,766,000 after acquiring an additional 27,210 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Insider Transactions at Methode Electronics

In other news, SVP Lars Ullrich bought 15,150 shares of the stock in a transaction dated 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 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 ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of Methode Electronics stock in a transaction on 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 purchase, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at $211,455.18. The trade was 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.

Analyst Upgrades and Downgrades

MEI has been the subject of a number of analyst reports. Robert W. Baird cut their price objective on shares of Methode Electronics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. 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 report on Tuesday, February 25th.

Methode Electronics Stock Performance

Shares of MEI opened at $5.73 on Tuesday. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $7.50 and its 200-day moving average price is $9.86. The stock has a market cap of $204.51 million, a P/E ratio of -2.26 and a beta of 0.93.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share 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 analysts’ expectations of $264.01 million. During the same quarter in the prior year, the firm earned ($0.33) EPS. Equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share 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 given a dividend of $0.14 per share. The ex-dividend date was Thursday, April 17th. This represents a $0.56 annualized dividend and a yield of 9.77%. Methode Electronics’s dividend payout ratio (DPR) is -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.