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

Cubist Systematic Strategies LLC trimmed its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 34.5% in the 4th quarter, Holdings Channel reports. The firm owned 254,463 shares of the electronics maker’s stock after selling 133,878 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Methode Electronics were worth $3,000,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Quarry LP purchased a new stake in Methode Electronics in the 4th quarter valued at about $32,000. AlphaQuest LLC boosted its holdings in shares of 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 purchasing an additional 2,990 shares during the period. Diversified Trust Co bought a new position in Methode Electronics in the fourth quarter worth approximately $126,000. Inlight Wealth Management LLC bought a new position in Methode Electronics in the fourth quarter worth approximately $163,000. Finally, LSV Asset Management purchased a new position in Methode Electronics during the 4th quarter worth $169,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Methode Electronics

In other Methode Electronics news, CEO Jonathan B. Degaynor bought 32,733 shares of Methode Electronics stock in a transaction that occurred on Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, with a total value of $211,455.18. Following the transaction, the chief executive officer now directly owns 32,733 shares of the company’s stock, valued at approximately $211,455.18. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lars Ullrich purchased 15,150 shares of the firm’s stock in a transaction on Friday, March 14th. The stock was acquired at an average price of $6.69 per share, with a total value of $101,353.50. Following the completion of the purchase, the senior vice president now owns 15,150 shares of the company’s stock, valued at $101,353.50. 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 corporate insiders.

Methode Electronics Stock Up 0.4 %

Methode Electronics stock opened at $7.10 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The firm has a market cap of $253.41 million, a P/E ratio of -2.81 and a beta of 0.88. The business has a fifty day moving average of $6.34 and a two-hundred day moving average of $9.45. Methode Electronics, Inc. has a twelve month low of $5.08 and a twelve month high of $17.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data 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 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 analysts’ expectations of $264.01 million. During the same quarter last year, the company earned ($0.33) earnings per share. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 7.89%. Methode Electronics’s dividend payout ratio (DPR) is presently -21.46%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MEI. Robert W. Baird dropped their price target on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research report 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 on the stock in a 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.