Graham Capital Management L.P. Buys 34,165 Shares of Methode Electronics, Inc. (NYSE:MEI)

Graham Capital Management L.P. lifted its stake in Methode Electronics, Inc. (NYSE:MEI) by 220.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,679 shares of the electronics maker’s stock after purchasing an additional 34,165 shares during the period. Graham Capital Management L.P. owned 0.14% of Methode Electronics worth $586,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MEI. Quarry LP bought a new position in Methode Electronics in the 4th quarter valued at $32,000. Aviance Capital Partners LLC boosted its holdings in Methode Electronics by 5.2% in the fourth quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker’s stock valued at $667,000 after acquiring an additional 2,781 shares during the last quarter. AlphaQuest LLC increased its position in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 2,990 shares during the period. Wells Fargo & Company MN raised its holdings in Methode Electronics by 25.9% during the 4th quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker’s stock worth $262,000 after purchasing an additional 4,574 shares during the last quarter. Finally, Empowered Funds LLC lifted its position in Methode Electronics by 5.1% during the 4th 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. Institutional investors own 95.49% of the company’s stock.

Insider Activity

In other news, CEO Jonathan B. Degaynor bought 32,733 shares of the business’s 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 purchase, the chief executive officer now owns 32,733 shares of the company’s stock, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lars Ullrich purchased 15,150 shares of the firm’s stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $6.69 per share, with a total value of $101,353.50. Following the completion of the purchase, the senior vice president now directly owns 15,150 shares in the company, valued at approximately $101,353.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

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

Methode Electronics Price Performance

Methode Electronics stock opened at $7.53 on Friday. 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 market capitalization of $268.75 million, a P/E ratio of -2.98 and a beta of 0.88. The business has a 50-day moving average of $6.37 and a 200-day moving average of $9.40. Methode Electronics, Inc. has a 1 year low of $5.08 and a 1 year high of $17.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million for 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 quarter in the prior year, the firm posted ($0.33) EPS. On average, equities analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were issued 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 yield of 7.44%. Methode Electronics’s dividend payout ratio (DPR) is currently -21.46%.

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.