Systematic Financial Management LP Decreases Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Systematic Financial Management LP lowered its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 67.0% during the second quarter, Holdings Channel reports. The institutional investor owned 178,500 shares of the electronics maker’s stock after selling 362,959 shares during the period. Systematic Financial Management LP’s holdings in Methode Electronics were worth $1,847,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Methode Electronics by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock valued at $56,998,000 after purchasing an additional 30,994 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of Methode Electronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock valued at $17,501,000 after buying an additional 949,616 shares during the period. Millennium Management LLC lifted its stake in shares of Methode Electronics by 98.7% during the second quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after buying an additional 321,832 shares during the period. American Century Companies Inc. lifted its stake in shares of Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after buying an additional 76,391 shares during the period. Finally, Bridge City Capital LLC lifted its stake in shares of Methode Electronics by 57.7% during the first quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock valued at $2,992,000 after buying an additional 89,902 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

MEI has been the topic of several recent analyst reports. Robert W. Baird reduced their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note 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.

Insider Transactions at Methode Electronics

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

Methode Electronics Price Performance

Methode Electronics stock opened at $11.97 on Monday. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $26.02. The firm has a fifty day moving average of $10.98 and a 200-day moving average of $11.36. The firm has a market capitalization of $423.62 million, a P/E ratio of -3.43 and a beta of 0.72. 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 (NYSE:MEI) last released 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 business had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. During the same period in the previous year, the company earned $0.06 EPS. As a group, analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Announces Dividend

The firm 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 $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics’s payout ratio is currently -16.05%.

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.