Axa S.A. Makes New $871,000 Investment in Methode Electronics, Inc. (NYSE:MEI)

Axa S.A. bought a new stake in shares of Methode Electronics, Inc. (NYSE:MEI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,147 shares of the electronics maker’s stock, valued at approximately $871,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Methode Electronics by 0.7% in the 1st 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% 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. boosted its position in Methode Electronics by 29.5% during the second 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 last quarter. Bridge City Capital LLC boosted its position in Methode Electronics by 57.7% during the first quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock worth $2,992,000 after acquiring an additional 89,902 shares during the last quarter. Finally, Nordea Investment Management AB grew its stake in Methode Electronics by 58.8% during the 1st quarter. Nordea Investment Management AB now owns 224,600 shares of the electronics maker’s stock valued at $2,700,000 after acquiring an additional 83,151 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary A. Lindsey purchased 8,800 shares of the stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. In other Methode Electronics news, Director David P. Blom bought 9,320 shares of the business’s 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 purchase, the director now directly owns 37,531 shares in the company, valued at $405,710.11. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mary A. Lindsey bought 8,800 shares of Methode Electronics stock in a transaction on Monday, September 23rd. The shares were acquired at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the acquisition, the director now owns 25,970 shares in the company, valued at $295,538.60. The disclosure for this purchase can be found here. 4.80% of the stock is currently owned by corporate insiders.

Methode Electronics Price Performance

NYSE:MEI opened at $11.41 on Wednesday. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $26.02. The stock’s fifty day moving average is $10.91 and its two-hundred day moving average is $11.35. The company has a market capitalization of $403.80 million, a P/E ratio of -3.27 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 issued 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 net margin of 13.15% and a negative return on equity of 3.50%. The company had revenue of $258.50 million during the quarter, compared to analysts’ expectations of $267.66 million. During the same quarter last year, the firm posted $0.06 earnings per share. Equities analysts expect that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be issued a $0.14 dividend. 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 is currently -16.05%.

Analyst Upgrades and Downgrades

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

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.