Arrowstreet Capital Limited Partnership Has $3.39 Million Stake in Methode Electronics, Inc. (NYSE:MEI)

Arrowstreet Capital Limited Partnership raised its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 2,396.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 287,440 shares of the electronics maker’s stock after acquiring an additional 275,926 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Methode Electronics were worth $3,389,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aviance Capital Partners LLC lifted its holdings in Methode Electronics by 5.2% during the 4th quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker’s stock valued at $667,000 after purchasing an additional 2,781 shares during the last quarter. AlphaQuest LLC raised its stake in shares of Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after acquiring an additional 2,990 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Methode Electronics by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock worth $909,000 after acquiring an additional 3,288 shares in the last quarter. Empowered Funds LLC grew 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 worth $1,385,000 after acquiring an additional 5,677 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in Methode Electronics by 19.2% during the 4th quarter. Sei Investments Co. now owns 49,440 shares of the electronics maker’s stock valued at $583,000 after purchasing an additional 7,969 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MEI. Sidoti upgraded Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th. Robert W. Baird decreased their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

Methode Electronics Stock Down 6.3 %

NYSE MEI opened at $5.32 on Wednesday. The stock has a market capitalization of $190.02 million, a P/E ratio of -2.10 and a beta of 0.93. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week 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. The stock has a fifty day moving average of $8.52 and a 200-day moving average of $10.26.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The firm had revenue of $239.90 million during the quarter, compared to analyst estimates of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter in the previous year, the business earned ($0.33) earnings per share. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed 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 was Thursday, April 17th. This represents a $0.56 dividend on an annualized basis and a yield of 10.52%. Methode Electronics’s payout ratio is presently -21.46%.

Insiders Place Their Bets

In related news, SVP Lars Ullrich purchased 15,150 shares of Methode Electronics stock in a transaction dated Friday, March 14th. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the transaction, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average price of $6.46 per share, with a total value of $211,455.18. Following the acquisition, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at $211,455.18. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

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.