Ensign Peak Advisors Inc Raises Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Ensign Peak Advisors Inc grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 66.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,341 shares of the electronics maker’s stock after purchasing an additional 10,150 shares during the period. Ensign Peak Advisors Inc’s holdings in Methode Electronics were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Sei Investments Co. increased its stake in Methode Electronics by 64.9% during the second quarter. Sei Investments Co. now owns 34,571 shares of the electronics maker’s stock worth $358,000 after purchasing an additional 13,600 shares during the period. Hsbc Holdings PLC increased its stake in shares of Methode Electronics by 58.8% during the second quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock worth $361,000 after buying an additional 13,014 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in Methode Electronics by 3.5% in the second quarter. Massachusetts Financial Services Co. MA now owns 155,508 shares of the electronics maker’s stock valued at $1,610,000 after acquiring an additional 5,220 shares in the last quarter. Federated Hermes Inc. grew its holdings in Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after acquiring an additional 949,616 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Methode Electronics by 29.5% in the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after purchasing an additional 76,391 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MEI shares. Robert W. Baird decreased their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Methode Electronics Trading Down 2.3 %

Shares of Methode Electronics stock opened at $11.97 on Monday. The company has a fifty day simple moving average of $10.98 and a 200-day simple moving average of $11.36. Methode Electronics, Inc. has a 12-month low of $8.54 and a 12-month high of $26.02. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $423.62 million, a price-to-earnings ratio of -3.43 and a beta of 0.72.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data 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). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The firm had revenue of $258.50 million for the quarter, compared to analysts’ expectations of $267.66 million. During the same period in the previous year, the business posted $0.06 EPS. On average, equities analysts forecast that Methode Electronics, Inc. will post -0.62 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.68%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics’s dividend payout ratio (DPR) is -16.05%.

Insider Buying and Selling at Methode Electronics

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now owns 25,970 shares in the company, valued at approximately $295,538.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Methode Electronics news, Director Mary A. Lindsey purchased 8,800 shares of Methode Electronics stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the transaction, the director now directly owns 25,970 shares in the company, valued at $295,538.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director David P. Blom purchased 9,320 shares of Methode Electronics stock in a transaction that occurred on Wednesday, September 18th. The stock was acquired at an average price of $10.81 per share, with a total value of $100,749.20. Following the transaction, the director now owns 37,531 shares in the company, valued at $405,710.11. The disclosure for this purchase can be found here. 4.80% of the stock is owned by company insiders.

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.