Cubist Systematic Strategies LLC Trims Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Cubist Systematic Strategies LLC cut its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 34.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 254,463 shares of the electronics maker’s stock after selling 133,878 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.71% of Methode Electronics worth $3,000,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MEI. Quarry LP bought a new position in shares of Methode Electronics in the fourth quarter worth approximately $32,000. Aviance Capital Partners LLC boosted its holdings in Methode Electronics by 5.2% in the 4th quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker’s stock worth $667,000 after buying an additional 2,781 shares during the period. AlphaQuest LLC increased its stake in Methode Electronics by 196.8% in the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock worth $53,000 after buying an additional 2,990 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Methode Electronics by 25.9% during the fourth quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker’s stock valued at $262,000 after acquiring an additional 4,574 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of Methode Electronics by 5.1% in the fourth quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker’s stock valued at $1,385,000 after acquiring an additional 5,677 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Methode Electronics Price Performance

Shares of Methode Electronics stock opened at $7.10 on Friday. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The stock has a 50 day moving average of $6.34 and a 200 day moving average of $9.45. The firm has a market cap of $253.41 million, a PE ratio of -2.81 and a beta of 0.88.

Methode Electronics (NYSE:MEI) last posted its 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 business had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. During the same period last year, the business posted ($0.33) earnings per share. On average, research analysts expect 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 Wednesday, April 2nd. Investors of record on Friday, April 18th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.89%. The ex-dividend date was Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Analysts Set New Price Targets

MEI has been the topic of several recent analyst reports. Robert W. Baird decreased their target price on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a research report on Tuesday, February 25th.

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.