Ieq Capital LLC Makes New Investment in Methode Electronics, Inc. $MEI

Ieq Capital LLC bought a new stake in Methode Electronics, Inc. (NYSE:MEI) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 122,844 shares of the electronics maker’s stock, valued at approximately $2,330,000.

Other hedge funds also recently made changes to their positions in the company. Allworth Financial LP purchased a new stake in shares of Methode Electronics in the 2nd quarter worth about $40,000. Strs Ohio lifted its holdings in shares of Methode Electronics by 10.0% during the fourth quarter. Strs Ohio now owns 26,300 shares of the electronics maker’s stock valued at $175,000 after purchasing an additional 2,400 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 2,815 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Methode Electronics by 21.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock worth $145,000 after acquiring an additional 3,778 shares in the last quarter. Finally, Barclays PLC boosted its stake in Methode Electronics by 4.5% in the 4th quarter. Barclays PLC now owns 90,325 shares of the electronics maker’s stock worth $600,000 after purchasing an additional 3,906 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Stock Performance

MEI opened at $16.03 on Wednesday. The company has a 50 day simple moving average of $15.66 and a two-hundred day simple moving average of $11.02. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. The firm has a market cap of $568.51 million, a P/E ratio of -15.87 and a beta of 1.50. Methode Electronics, Inc. has a 1-year low of $4.88 and a 1-year high of $20.38.

Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The firm had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. Equities analysts forecast that Methode Electronics, Inc. will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Friday, July 17th. Methode Electronics’s payout ratio is presently -19.80%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Wall Street Zen cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Craig Hallum assumed coverage on shares of Methode Electronics in a research report on Tuesday. They set a “buy” rating and a $30.00 price objective on the stock. Robert W. Baird lifted their target price on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Finally, Barrington Research upgraded shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Monday, June 29th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $22.00.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.