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

Walleye Capital LLC boosted its stake in Methode Electronics, Inc. (NYSE:MEI) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 367,095 shares of the electronics maker’s stock after acquiring an additional 32,710 shares during the quarter. Walleye Capital LLC’s holdings in Methode Electronics were worth $4,328,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its holdings in Methode Electronics by 196.8% during the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 2,990 shares in the last quarter. Diversified Trust Co purchased a new position in Methode Electronics in the 4th quarter valued at about $126,000. Inlight Wealth Management LLC acquired a new stake in Methode Electronics in the 4th quarter worth about $163,000. LSV Asset Management purchased a new stake in Methode Electronics during the 4th quarter worth approximately $169,000. Finally, SG Americas Securities LLC acquired a new position in shares of Methode Electronics during the fourth quarter valued at approximately $209,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Activity at Methode Electronics

In other Methode Electronics news, SVP Lars Ullrich acquired 15,150 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the acquisition, the senior vice president now owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. The trade was a ? increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were acquired at an average cost of $6.46 per share, with a total value of $211,455.18. Following the purchase, the chief executive officer now 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 insiders.

Methode Electronics Stock Down 0.7 %

MEI stock opened at $5.65 on Thursday. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The firm has a 50-day moving average of $7.77 and a two-hundred day moving average of $10.00. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a market cap of $201.65 million, a price-to-earnings ratio of -2.23 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) EPS for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The company had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the prior year, the business posted ($0.33) EPS. As a group, analysts forecast 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. Stockholders of record on Friday, April 18th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 9.91%. Methode Electronics’s payout ratio is -21.46%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MEI. Robert W. Baird lowered their price target on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, February 25th.

Methode Electronics 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.