Massachusetts Financial Services Co. MA Has $1.82 Million Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 2.4% during the third quarter, HoldingsChannel reports. The fund owned 151,830 shares of the electronics maker’s stock after selling 3,678 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Methode Electronics were worth $1,816,000 at the end of the most recent quarter.

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

Methode Electronics Stock Up 1.8 %

Shares of NYSE:MEI opened at $10.92 on Thursday. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $25.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The business’s 50-day moving average is $10.38 and its 200-day moving average is $10.80. The company has a market capitalization of $384.82 million, a price-to-earnings ratio of -2.73 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results 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 business had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same period last year, the firm posted $0.06 earnings per share. Equities research analysts predict that Methode Electronics, Inc. will post -0.68 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.13%. The ex-dividend date was Friday, October 18th. Methode Electronics’s dividend payout ratio is presently -13.90%.

Insiders Place Their Bets

In related news, Director Mary A. Lindsey acquired 8,800 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the transaction, the director now directly owns 25,970 shares of the company’s stock, valued at $295,538.60. This trade represents a 51.25 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director David P. Blom bought 9,320 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was purchased at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the transaction, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This represents a 33.04 % 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.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Robert W. Baird cut their price objective on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report 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.