122,533 Shares in Methode Electronics, Inc. (NYSE:MEI) Acquired by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC acquired a new stake in Methode Electronics, Inc. (NYSE:MEI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 122,533 shares of the electronics maker’s stock, valued at approximately $1,445,000. Essex Investment Management Co. LLC owned approximately 0.34% of Methode Electronics as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. AlphaQuest LLC grew its holdings in Methode Electronics by 196.8% during the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after purchasing an additional 2,990 shares in the last quarter. Diversified Trust Co acquired a new stake in shares of Methode Electronics during the fourth quarter valued at about $126,000. Intech Investment Management LLC purchased a new stake in shares of Methode Electronics during the third quarter worth about $178,000. SG Americas Securities LLC acquired a new position in shares of Methode Electronics in the fourth quarter worth about $209,000. Finally, Inceptionr LLC acquired a new position in shares of Methode Electronics in the fourth quarter worth about $222,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Down 5.9 %

NYSE:MEI opened at $6.57 on Monday. The stock has a 50-day simple moving average of $11.11 and a 200 day simple moving average of $10.91. Methode Electronics, Inc. has a one year low of $6.26 and a one year high of $17.45. The company has a market capitalization of $234.09 million, a price-to-earnings ratio of -2.59 and a beta of 0.77. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

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

Methode Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a $0.14 dividend. The ex-dividend date was Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 8.53%. Methode Electronics’s payout ratio is currently -21.46%.

Analyst Ratings Changes

MEI has been the topic of several analyst reports. Robert W. Baird dropped their price objective on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday, February 25th.

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.