Methode Electronics, Inc. (NYSE:MEI) Shares Sold by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lessened its position in Methode Electronics, Inc. (NYSE:MEI) by 4.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,457,456 shares of the electronics maker’s stock after selling 71,218 shares during the period. D. E. Shaw & Co. Inc. owned approximately 4.09% of Methode Electronics worth $17,183,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its position in shares of Methode Electronics by 112.3% during the third quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after buying an additional 67,656 shares during the period. JPMorgan Chase & Co. boosted its position in Methode Electronics by 176.7% during the 4th quarter. JPMorgan Chase & Co. now owns 263,381 shares of the electronics maker’s stock worth $3,105,000 after acquiring an additional 168,188 shares during the period. Kingsview Wealth Management LLC bought a new position in shares of Methode Electronics in the fourth quarter worth $3,678,000. Empowered Funds LLC increased its holdings in shares of Methode Electronics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker’s stock valued at $1,385,000 after purchasing an additional 5,677 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Methode Electronics by 2,396.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker’s stock worth $3,389,000 after purchasing an additional 275,926 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on MEI shares. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a research report on Tuesday, February 25th. Robert W. Baird cut their target price on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th.

Methode Electronics Price Performance

Shares of Methode Electronics stock opened at $7.71 on Tuesday. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45. 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 stock has a market cap of $275.18 million, a PE ratio of -3.05 and a beta of 0.88. The company’s 50-day moving average price is $6.30 and its two-hundred day moving average price is $9.44.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. During the same period in the prior year, the firm earned ($0.33) EPS. As a group, sell-side analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.26%. The ex-dividend date was Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Insider Buying and Selling

In other news, SVP Lars Ullrich acquired 15,150 shares of the firm’s stock in a transaction that occurred on Friday, March 14th. The stock was purchased at an average price of $6.69 per share, with a total value of $101,353.50. Following the purchase, the senior vice president now owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of the stock in a transaction on Tuesday, March 11th. The shares were purchased at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

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.