BNP Paribas Financial Markets Sells 60,164 Shares of Methode Electronics, Inc. (NYSE:MEI)

BNP Paribas Financial Markets lowered its position in Methode Electronics, Inc. (NYSE:MEI) by 37.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 100,613 shares of the electronics maker’s stock after selling 60,164 shares during the period. BNP Paribas Financial Markets’ holdings in Methode Electronics were worth $1,203,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MEI. Federated Hermes Inc. lifted its holdings in shares of Methode Electronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after buying an additional 949,616 shares in the last quarter. American Century Companies Inc. increased its holdings in Methode Electronics by 29.5% during the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after acquiring an additional 76,391 shares during the period. Hsbc Holdings PLC lifted its stake in Methode Electronics by 58.8% in the 2nd quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock worth $361,000 after purchasing an additional 13,014 shares in the last quarter. Versor Investments LP bought a new position in Methode Electronics in the 2nd quarter valued at $337,000. Finally, AQR Capital Management LLC grew its position in shares of Methode Electronics by 124.1% during the 2nd quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker’s stock valued at $2,331,000 after purchasing an additional 124,677 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on MEI. Robert W. Baird boosted their target price on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Insider Activity at Methode Electronics

In other news, Director Mary A. Lindsey bought 8,800 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were acquired 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 of the company’s stock, valued at approximately $295,538.60. This trade represents a 51.25 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David P. Blom bought 9,320 shares of Methode Electronics stock in a transaction on Wednesday, September 18th. The shares were acquired at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the acquisition, the director now owns 37,531 shares of the company’s stock, 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 insiders.

Methode Electronics Trading Up 2.4 %

NYSE:MEI opened at $13.03 on Tuesday. The company has a 50-day moving average price of $10.43 and a 200-day moving average price of $10.79. The stock has a market cap of $459.18 million, a price-to-earnings ratio of -5.15 and a beta of 0.81. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $23.41.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same quarter last year, the company earned $0.06 earnings per share. Equities analysts predict that Methode Electronics, Inc. will post -0.47 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a yield of 4.30%. Methode Electronics’s payout ratio is currently -22.13%.

Methode Electronics 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.