Bayesian Capital Management LP Acquires Shares of 18,442 Methode Electronics, Inc. (NYSE:MEI)

Bayesian Capital Management LP bought a new position in shares of Methode Electronics, Inc. (NYSE:MEI) during the fourth quarter, Holdings Channel.com reports. The fund bought 18,442 shares of the electronics maker’s stock, valued at approximately $217,000.

A number of other large investors also recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Methode Electronics by 46.2% in the fourth quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker’s stock valued at $16,666,000 after buying an additional 446,398 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Methode Electronics in the 4th quarter worth about $3,678,000. Arrowstreet Capital Limited Partnership lifted its position in Methode Electronics by 2,396.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker’s stock valued at $3,389,000 after acquiring an additional 275,926 shares in the last quarter. Norges Bank acquired a new position in Methode Electronics during the 4th quarter valued at about $2,741,000. Finally, JPMorgan Chase & Co. increased its holdings in Methode Electronics by 176.7% during the 4th quarter. JPMorgan Chase & Co. now owns 263,381 shares of the electronics maker’s stock worth $3,105,000 after purchasing an additional 168,188 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Methode Electronics Trading Up 7.2 %

NYSE:MEI opened at $7.07 on Friday. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45. The firm has a 50-day moving average price of $6.39 and a two-hundred day moving average price of $9.48. The firm has a market cap of $252.16 million, a price-to-earnings ratio of -2.79 and a beta of 0.88. 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 posted its quarterly earnings data 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 business had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. During the same period in the prior year, the firm posted ($0.33) EPS. On average, equities analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 7.93%. The ex-dividend date of this dividend was Thursday, April 17th. Methode Electronics’s payout ratio is -21.46%.

Insider Activity

In other Methode Electronics news, CEO Jonathan B. Degaynor acquired 32,733 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $6.46 per share, with a total value of $211,455.18. Following the acquisition, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Lars Ullrich bought 15,150 shares of the stock in a transaction on Friday, March 14th. The shares were acquired at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the acquisition, the senior vice president now directly owns 15,150 shares in the company, valued at approximately $101,353.50. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

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.