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

Massachusetts Financial Services Co. MA cut its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 2.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,830 shares of the electronics maker’s stock after selling 3,678 shares during the period. Massachusetts Financial Services Co. MA owned 0.43% of Methode Electronics worth $1,816,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. nVerses Capital LLC lifted its position in shares of Methode Electronics by 1,600.0% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock valued at $41,000 after buying an additional 3,200 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 valued at $59,000 after purchasing an additional 5,023 shares during the last quarter. CWM LLC boosted its position in Methode Electronics by 685.1% during the third quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock worth $104,000 after purchasing an additional 7,618 shares during the period. Hennessy Advisors Inc. acquired a new position in shares of Methode Electronics in the second quarter valued at $111,000. Finally, Quest Partners LLC raised its position 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 purchasing an additional 1,758 shares during the period. 95.49% of the stock is owned by institutional investors.

Methode Electronics Stock Up 1.8 %

Shares of MEI opened at $10.92 on Thursday. 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 capitalization of $384.82 million, a PE ratio of -2.73 and a beta of 0.76. The firm’s 50 day moving average is $10.38 and its 200-day moving average is $10.80. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $25.34.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities research analysts forecast that Methode Electronics, Inc. will post -0.68 EPS for the current year.

Methode Electronics Announces Dividend

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

Analysts Set New Price Targets

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

Insider Buying and Selling

In other Methode Electronics news, Director Mary A. Lindsey bought 8,800 shares of the stock in a transaction on Monday, September 23rd. The stock was purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, 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 filing with the SEC, which is available through the SEC website. Also, Director David P. Blom purchased 9,320 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the acquisition, the director now directly owns 37,531 shares in the company, valued at $405,710.11. The trade was a 33.04 % increase in their position. The disclosure for this purchase can be found here. 1.40% of the stock is currently 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.