PDT Partners LLC Increases Stock Position in Methode Electronics, Inc. (NYSE:MEI)

PDT Partners LLC increased its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 9.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,678 shares of the electronics maker’s stock after purchasing an additional 6,888 shares during the period. PDT Partners LLC’s holdings in Methode Electronics were worth $989,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in MEI. Price T Rowe Associates Inc. MD grew its position in Methode Electronics by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock worth $328,000 after purchasing an additional 1,163 shares during the period. SummerHaven Investment Management LLC grew its holdings in shares of Methode Electronics by 6.0% in the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock worth $233,000 after acquiring an additional 1,281 shares during the period. Quest Partners LLC increased its position in Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after acquiring an additional 1,758 shares during the last quarter. nVerses Capital LLC lifted its holdings in Methode Electronics by 1,600.0% in the third quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock valued at $41,000 after acquiring an additional 3,200 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Methode Electronics by 4.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock worth $909,000 after purchasing an additional 3,288 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David P. Blom acquired 9,320 shares of Methode Electronics stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average price of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the transaction, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This represents a 33.04 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary A. Lindsey bought 8,800 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the transaction, the director now owns 25,970 shares of the company’s stock, valued at $295,538.60. The trade was a 51.25 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Robert W. Baird reduced their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, September 6th.

Methode Electronics Price Performance

MEI stock opened at $10.92 on Monday. The business’s 50-day moving average price is $10.36 and its 200-day moving average price is $10.80. The stock has a market cap of $384.82 million, a P/E ratio of -2.71 and a beta of 0.76. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $25.34.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The firm had revenue of $258.50 million during the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same quarter in the previous year, the company earned $0.06 earnings per share. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.68 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Friday, October 18th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a yield of 5.13%. Methode Electronics’s dividend payout ratio is presently -13.90%.

Methode Electronics 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.