Methode Electronics, Inc. (NYSE:MEI) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in Methode Electronics, Inc. (NYSE:MEI) by 2.2% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 220,652 shares of the electronics maker’s stock after selling 4,928 shares during the quarter. GSA Capital Partners LLP’s holdings in Methode Electronics were worth $2,639,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MEI. nVerses Capital LLC increased its stake in shares of Methode Electronics by 1,600.0% during the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 3,200 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Methode Electronics by 749.7% during the second quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker’s stock valued at $59,000 after acquiring an additional 5,023 shares during the last quarter. CWM LLC lifted its position in shares of Methode Electronics by 685.1% in the third quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock valued at $104,000 after acquiring an additional 7,618 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Methode Electronics during the second quarter worth approximately $111,000. Finally, Quest Partners LLC raised its stake in Methode Electronics by 17.1% in the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after purchasing an additional 1,758 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Up 1.9 %

NYSE MEI opened at $10.20 on Tuesday. The business’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $10.97. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. The firm has a market cap of $359.45 million, a PE ratio of -2.53 and a beta of 0.76. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $25.34.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). The firm had revenue of $258.50 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted $0.06 earnings per share. As a group, equities analysts anticipate that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.49%. The ex-dividend date was Friday, October 18th. Methode Electronics’s payout ratio is presently -13.90%.

Insider Activity at Methode Electronics

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares in the company, valued at $295,538.60. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now directly owns 25,970 shares in the company, valued at $295,538.60. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction dated Wednesday, September 18th. The stock was bought at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the purchase, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird dropped their target price 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 raised shares of 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.