Versor Investments LP Boosts Holdings in Methode Electronics, Inc. (NYSE:MEI)

Versor Investments LP boosted its holdings in Methode Electronics, Inc. (NYSE:MEI) by 16.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,100 shares of the electronics maker’s stock after purchasing an additional 5,500 shares during the quarter. Versor Investments LP’s holdings in Methode Electronics were worth $456,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Methode Electronics by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock worth $56,998,000 after acquiring an additional 30,994 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after purchasing an additional 949,616 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after purchasing an additional 321,832 shares during the last quarter. American Century Companies Inc. grew its position in shares of Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after purchasing an additional 76,391 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Methode Electronics in the second quarter worth about $2,619,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Price Performance

MEI stock opened at $9.72 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $25.34. The stock has a market cap of $342.53 million, a PE ratio of -2.41 and a beta of 0.76. The company has a 50-day moving average price of $10.43 and a 200 day moving average price of $10.94.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period in the prior year, the business posted $0.06 earnings per share. Equities research analysts anticipate that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 5.76%. The ex-dividend date of this dividend was Friday, October 18th. Methode Electronics’s dividend payout ratio is presently -13.90%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MEI shares. Robert W. Baird cut their price target on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Insider Activity at Methode Electronics

In other news, Director David P. Blom bought 9,320 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was acquired at an average cost of $10.81 per share, with a total value of $100,749.20. Following the transaction, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This trade represents a 33.04 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This trade represents a 51.25 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by company insiders.

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.