Virtus Investment Advisers Inc. Takes $189,000 Position in Methode Electronics, Inc. (NYSE:MEI)

Virtus Investment Advisers Inc. acquired a new position in Methode Electronics, Inc. (NYSE:MEI) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 16,000 shares of the electronics maker’s stock, valued at approximately $189,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Methode Electronics by 8.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,139 shares of the electronics maker’s stock worth $237,000 after purchasing an additional 1,513 shares during the last quarter. Quarry LP bought a new position in Methode Electronics during the fourth quarter worth $32,000. Aviance Capital Partners LLC raised its stake in Methode Electronics by 5.2% during the fourth 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 last quarter. AlphaQuest LLC lifted its holdings in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after buying an additional 2,990 shares during the period. Finally, Wells Fargo & Company MN boosted its position 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 last quarter. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Trading Up 0.9%

NYSE:MEI opened at $7.60 on Monday. The firm has a fifty day simple moving average of $6.39 and a two-hundred day simple moving average of $9.40. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The stock has a market capitalization of $271.07 million, a price-to-earnings ratio of -3.00 and a beta of 0.88. 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 (NYSE:MEI) last issued its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate 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 analyst estimates of $264.01 million. During the same quarter in the prior year, the business earned ($0.33) earnings per share. Analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.37%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other Methode Electronics news, SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction dated Friday, March 14th. The stock was purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the acquisition, the senior vice president now directly owns 15,150 shares of the company’s stock, valued at $101,353.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average price 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 $211,455.18. The trade was 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 company insiders.

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.