XTX Topco Ltd Takes Position in Methode Electronics, Inc. (NYSE:MEI)

XTX Topco Ltd purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 21,250 shares of the electronics maker’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MEI. Federated Hermes Inc. grew its holdings in shares of Methode Electronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after purchasing an additional 949,616 shares during the last quarter. Millennium Management LLC grew its stake in Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock worth $6,707,000 after buying an additional 321,832 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Methode Electronics during the second quarter worth approximately $2,619,000. Algert Global LLC lifted its stake in Methode Electronics by 228.2% in the third quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock valued at $3,272,000 after buying an additional 190,203 shares during the last quarter. Finally, Walleye Capital LLC boosted its holdings in shares of Methode Electronics by 86.6% in the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock valued at $3,999,000 after acquiring an additional 155,147 shares during the period. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Stock Performance

Shares of MEI opened at $12.09 on Thursday. The stock has a market capitalization of $431.09 million, a P/E ratio of -4.78 and a beta of 0.81. 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, Inc. has a 1 year low of $8.54 and a 1 year high of $23.41. The company’s fifty day moving average is $10.70 and its two-hundred day moving average is $10.85.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter last year, the business earned $0.06 EPS. On average, sell-side analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Friday, January 17th. Methode Electronics’s dividend payout ratio (DPR) is -22.13%.

Insider Activity at Methode Electronics

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of Methode Electronics stock in a transaction on Monday, September 23rd. The stock was bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the acquisition, the director now owns 25,970 shares in the company, valued at $295,538.60. The trade was a 51.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

MEI has been the subject of a number of recent research reports. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird increased their target price on shares of Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th.

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.