JPMorgan Chase & Co. Has $2.20 Million Holdings in Methode Electronics, Inc. $MEI

JPMorgan Chase & Co. lifted its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 51.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,065 shares of the electronics maker’s stock after buying an additional 99,308 shares during the quarter. JPMorgan Chase & Co. owned about 0.82% of Methode Electronics worth $2,198,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Methode Electronics by 4.5% during the third quarter. Vanguard Group Inc. now owns 3,169,009 shares of the electronics maker’s stock worth $23,926,000 after buying an additional 136,842 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Methode Electronics by 0.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,266,980 shares of the electronics maker’s stock worth $9,566,000 after buying an additional 8,869 shares during the period. AQR Capital Management LLC increased its position in shares of Methode Electronics by 29.7% during the second quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock worth $11,505,000 after buying an additional 276,923 shares during the period. Towle & Co. increased its position in shares of Methode Electronics by 8.1% during the third quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock worth $7,801,000 after buying an additional 77,302 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Methode Electronics by 8.8% during the third quarter. Ameriprise Financial Inc. now owns 873,399 shares of the electronics maker’s stock worth $6,594,000 after buying an additional 70,500 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Trading Down 1.4%

NYSE:MEI opened at $5.77 on Tuesday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $204.29 million, a price-to-earnings ratio of -3.17 and a beta of 1.19. The firm has a fifty day simple moving average of $7.27 and a two-hundred day simple moving average of $7.20. Methode Electronics, Inc. has a 12 month low of $4.88 and a 12 month high of $10.77.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). The company had revenue of $233.70 million during the quarter, compared to analyst estimates of $219.44 million. Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%. Analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, April 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -10.99%.

Analyst Upgrades and Downgrades

MEI has been the subject of several recent analyst reports. Robert W. Baird set a $8.50 price objective on shares of Methode Electronics in a research report on Wednesday, January 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a research report on Tuesday, December 9th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $8.50.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.