JPMorgan Chase & Co. Has $2.20 Million Stock Position in Methode Electronics, Inc. $MEI

JPMorgan Chase & Co. grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 51.8% in the third quarter, Holdings Channel reports. The institutional investor owned 291,065 shares of the electronics maker’s stock after acquiring an additional 99,308 shares during the period. JPMorgan Chase & Co.’s holdings in Methode Electronics were worth $2,198,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GSA Capital Partners LLP grew its holdings in shares of Methode Electronics by 102.0% during the third quarter. GSA Capital Partners LLP now owns 376,777 shares of the electronics maker’s stock valued at $2,845,000 after buying an additional 190,244 shares during the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Methode Electronics during the third quarter valued at about $1,340,000. Towle & Co. grew its holdings in shares of Methode Electronics by 8.1% during the third quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock valued at $7,801,000 after buying an additional 77,302 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Methode Electronics by 25.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,072 shares of the electronics maker’s stock valued at $201,000 after buying an additional 5,570 shares during the last quarter. Finally, CWM LLC grew its holdings in shares of Methode Electronics by 57.5% during the third quarter. CWM LLC now owns 67,778 shares of the electronics maker’s stock valued at $512,000 after buying an additional 24,747 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Down 1.4%

MEI opened at $5.77 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.41 and a quick ratio of 1.55. The company’s 50-day moving average is $7.27 and its 200 day moving average is $7.20. Methode Electronics, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $10.77. The firm has a market capitalization of $204.29 million, a P/E ratio of -3.17 and a beta of 1.19.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. The firm had revenue of $233.70 million for the quarter, compared to the consensus estimate of $219.44 million. 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 declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date of this dividend is Friday, April 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -10.99%.

Analysts Set New Price Targets

MEI has been the subject of a number of analyst reports. Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a report on Thursday, January 22nd. Finally, Robert W. Baird set a $8.50 price objective on shares of Methode Electronics in a report on Wednesday, January 14th. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Methode Electronics currently has an average rating of “Reduce” and an average target price of $8.50.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.