Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Cwm LLC

Cwm LLC boosted its holdings in Methode Electronics, Inc. (NYSE:MEI) by 685.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,730 shares of the electronics maker’s stock after acquiring an additional 7,618 shares during the period. Cwm LLC’s holdings in Methode Electronics were worth $104,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Methode Electronics by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock worth $56,998,000 after purchasing an additional 30,994 shares during the last quarter. Federated Hermes Inc. increased its position in shares of Methode Electronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after acquiring an additional 949,616 shares during the last quarter. Millennium Management LLC increased its holdings in Methode Electronics by 98.7% in 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. raised its position in Methode Electronics by 29.5% in 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 during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Methode Electronics in the second quarter valued at $2,619,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Methode Electronics

In other news, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Mary A. Lindsey bought 8,800 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $11.38 per share, with a total value of $100,144.00. Following the transaction, the director now directly owns 25,970 shares in the company, valued at $295,538.60. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director David P. Blom purchased 9,320 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the transaction, the director now owns 37,531 shares of the company’s stock, valued at $405,710.11. This trade represents a 0.00 % 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 insiders.

Methode Electronics Trading Down 0.1 %

MEI opened at $9.19 on Friday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $25.34. The company has a market cap of $323.86 million, a P/E ratio of -2.28 and a beta of 0.72. The business’s 50-day simple moving average is $10.65 and its 200-day simple moving average is $11.19.

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

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be given a $0.14 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a yield of 6.09%. Methode Electronics’s dividend payout ratio (DPR) is presently -13.90%.

Analyst Ratings Changes

MEI has been the subject of a number of research reports. Robert W. Baird dropped their price objective on shares of 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 upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

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.