Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 58.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,157 shares of the electronics maker’s stock after buying an additional 13,014 shares during the period. Hsbc Holdings PLC’s holdings in Methode Electronics were worth $361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Nordea Investment Management AB increased its holdings in Methode Electronics by 58.8% in the 1st quarter. Nordea Investment Management AB now owns 224,600 shares of the electronics maker’s stock valued at $2,700,000 after purchasing an additional 83,151 shares during the last quarter. Federated Hermes Inc. increased its holdings in Methode Electronics by 128.1% in the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after purchasing an additional 949,616 shares during the last quarter. State Board of Administration of Florida Retirement System increased its holdings in Methode Electronics by 424.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,966 shares of the electronics maker’s stock valued at $645,000 after purchasing an additional 42,875 shares during the last quarter. American Century Companies Inc. increased its holdings in 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. Finally, Invenomic Capital Management LP acquired a new stake in Methode Electronics in the 4th quarter valued at approximately $2,231,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Insider Transactions at Methode Electronics

In other news, Director David P. Blom acquired 9,320 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost 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 transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director David P. Blom acquired 9,320 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mary A. Lindsey acquired 8,800 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $11.38 per share, with a total value 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 disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

MEI has been the subject of several research reports. Robert W. Baird dropped their target price on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, September 6th. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Methode Electronics Stock Performance

Shares of MEI stock opened at $11.41 on Thursday. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $26.02. The stock has a market capitalization of $403.62 million, a PE ratio of -3.27 and a beta of 0.72. The firm has a 50 day moving average of $10.88 and a two-hundred day moving average of $11.35.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The business had revenue of $258.50 million during the quarter, compared to analysts’ expectations of $267.66 million. During the same period in the prior year, the business earned $0.06 EPS. On average, research analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 4.91%. Methode Electronics’s dividend payout ratio (DPR) is currently -16.05%.

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.