Methode Electronics, Inc. (NYSE:MEI) Shares Sold by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. lessened its stake in Methode Electronics, Inc. (NYSE:MEI) by 11.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,789 shares of the electronics maker’s stock after selling 3,488 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned about 0.08% of Methode Electronics worth $328,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MEI. Quarry LP acquired a new position in shares of Methode Electronics during the fourth quarter worth $32,000. AlphaQuest LLC lifted its holdings in Methode Electronics by 196.8% in the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after buying an additional 2,990 shares in the last quarter. Inlight Wealth Management LLC purchased a new position in Methode Electronics in the 4th quarter valued at about $163,000. LSV Asset Management acquired a new stake in shares of Methode Electronics during the fourth quarter valued at about $169,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Methode Electronics during the fourth quarter valued at about $209,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Price Performance

MEI opened at $7.53 on Friday. The company has a 50-day moving average of $6.37 and a 200-day moving average of $9.40. The company has a market capitalization of $268.75 million, a P/E ratio of -2.98 and a beta of 0.88. Methode Electronics, Inc. has a 1-year low of $5.08 and a 1-year high of $17.45. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

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 analysts’ consensus estimates 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 firm had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. During the same quarter last year, the business posted ($0.33) earnings per share. Equities analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal 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 paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 7.44%. Methode Electronics’s payout ratio is currently -21.46%.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a 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 on the stock in a research report on Tuesday, April 15th.

Insider Buying and Selling

In other news, CEO Jonathan B. Degaynor bought 32,733 shares of Methode Electronics stock in a transaction on Tuesday, March 11th. The stock was purchased 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 directly owns 32,733 shares of the company’s stock, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Lars Ullrich bought 15,150 shares of the firm’s stock in a transaction 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 transaction, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is owned by company insiders.

About Methode Electronics

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.