Public Employees Retirement System of Ohio Boosts Stake in Methode Electronics, Inc. (NYSE:MEI)

Public Employees Retirement System of Ohio increased its position in Methode Electronics, Inc. (NYSE:MEI) by 150.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 39,635 shares of the electronics maker’s stock after purchasing an additional 23,820 shares during the quarter. Public Employees Retirement System of Ohio owned approximately 0.11% of Methode Electronics worth $474,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. nVerses Capital LLC lifted its position in Methode Electronics by 1,600.0% during 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 period. Nisa Investment Advisors LLC lifted its position 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 acquiring an additional 5,023 shares during the period. CWM LLC boosted its stake 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 acquiring an additional 7,618 shares in the last quarter. Pinnacle Associates Ltd. purchased a new stake in Methode Electronics in the third quarter worth about $132,000. Finally, Quest Partners LLC increased its stake in shares of Methode Electronics by 17.1% during 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 in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MEI has been the topic of a number of analyst reports. Robert W. Baird boosted their price target on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Methode Electronics Price Performance

Shares of MEI opened at $12.15 on Friday. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $23.41. The company has a market capitalization of $433.23 million, a P/E ratio of -4.80 and a beta of 0.81. The firm has a 50 day moving average of $10.74 and a 200 day moving average of $10.86. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46.

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the business posted $0.06 earnings per share. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 17th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend is Friday, January 17th. Methode Electronics’s payout ratio is presently -22.13%.

Insider Transactions at Methode Electronics

In other news, Director Mary A. Lindsey purchased 8,800 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the purchase, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. This represents a 51.25 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.