Howe & Rusling Inc. Raises Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Howe & Rusling Inc. raised its holdings in Methode Electronics, Inc. (NYSE:MEI) by 83.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,817 shares of the electronics maker’s stock after purchasing an additional 22,621 shares during the quarter. Howe & Rusling Inc. owned 0.14% of Methode Electronics worth $587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new stake in Methode Electronics in the 3rd quarter worth approximately $178,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Methode Electronics by 4.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock valued at $909,000 after purchasing an additional 3,288 shares during the period. Walleye Capital LLC boosted its holdings in Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after buying an additional 155,147 shares in the last quarter. Verition Fund Management LLC grew its position in Methode Electronics by 263.2% during the third quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after buying an additional 38,259 shares during the period. Finally, PDT Partners LLC increased its holdings in Methode Electronics by 9.1% in the third quarter. PDT Partners LLC now owns 82,678 shares of the electronics maker’s stock valued at $989,000 after buying an additional 6,888 shares in the last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

NYSE:MEI opened at $6.77 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The stock has a market capitalization of $241.45 million, a PE ratio of -2.67 and a beta of 0.77. Methode Electronics, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $17.45. The company has a fifty day moving average of $9.67 and a two-hundred day moving average of $10.55.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The company had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter last year, the company earned ($0.33) EPS. As a group, research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, April 18th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 8.28%. The ex-dividend date is Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Analyst Ratings Changes

Several research firms have recently issued reports on MEI. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, February 25th. Robert W. Baird reduced their price target on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

Insider Activity at Methode Electronics

In related news, CEO Jonathan B. Degaynor bought 32,733 shares of the stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the acquisition, the chief executive officer now directly owns 32,733 shares in the company, valued at approximately $211,455.18. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lars Ullrich purchased 15,150 shares of the company’s stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $6.69 per share, with a total value of $101,353.50. Following the completion of the transaction, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at approximately $101,353.50. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

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.