Marshall Wace LLP Has $656,000 Holdings in Methode Electronics, Inc. (NYSE:MEI)

Marshall Wace LLP decreased its holdings in Methode Electronics, Inc. (NYSE:MEI) by 57.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 55,641 shares of the electronics maker’s stock after selling 75,917 shares during the period. Marshall Wace LLP’s holdings in Methode Electronics were worth $656,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Aviance Capital Partners LLC increased its stake 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 valued at $667,000 after buying an additional 2,781 shares during the period. AlphaQuest LLC grew its holdings in shares of Methode Electronics by 196.8% during the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after acquiring an additional 2,990 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Methode Electronics by 25.9% during the fourth quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker’s stock worth $262,000 after acquiring an additional 4,574 shares in the last quarter. Empowered Funds LLC boosted its position in Methode Electronics by 5.1% during the fourth quarter. Empowered Funds LLC now owns 117,481 shares of the electronics maker’s stock valued at $1,385,000 after purchasing an additional 5,677 shares during the last quarter. Finally, Sei Investments Co. grew its stake in Methode Electronics by 19.2% in the fourth quarter. Sei Investments Co. now owns 49,440 shares of the electronics maker’s stock valued at $583,000 after purchasing an additional 7,969 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Stock Performance

Shares of NYSE MEI opened at $6.37 on Friday. The business’s 50-day simple moving average is $6.81 and its 200-day simple moving average is $9.63. 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, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45. The firm has a market cap of $227.39 million, a price-to-earnings ratio of -2.52 and a beta of 0.93.

Methode Electronics (NYSE:MEI) last announced its quarterly 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 company had revenue of $239.90 million for the quarter, compared to analyst estimates of $264.01 million. During the same quarter last year, the business earned ($0.33) EPS. As a group, equities research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders 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 yield of 8.79%. The ex-dividend date was Thursday, April 17th. Methode Electronics’s dividend payout ratio is -21.46%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MEI shares. Robert W. Baird cut their price target on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating for the company 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 note on Tuesday, February 25th.

Insider Buying and Selling at Methode Electronics

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

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.