Los Angeles Capital Management LLC Acquires Shares of 122,616 Methode Electronics, Inc. (NYSE:MEI)

Los Angeles Capital Management LLC bought a new position in Methode Electronics, Inc. (NYSE:MEI) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm bought 122,616 shares of the electronics maker’s stock, valued at approximately $1,466,000. Los Angeles Capital Management LLC owned approximately 0.35% of Methode Electronics at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. SG Americas Securities LLC acquired a new position in Methode Electronics during the first quarter worth $136,000. Entropy Technologies LP boosted its position in shares of Methode Electronics by 44.5% during the 1st quarter. Entropy Technologies LP now owns 49,929 shares of the electronics maker’s stock valued at $608,000 after acquiring an additional 15,380 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Methode Electronics by 424.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 52,966 shares of the electronics maker’s stock valued at $645,000 after purchasing an additional 42,875 shares during the period. Kingsview Wealth Management LLC increased its position in Methode Electronics by 7.0% during the first quarter. Kingsview Wealth Management LLC now owns 75,294 shares of the electronics maker’s stock worth $917,000 after purchasing an additional 4,935 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Methode Electronics by 0.7% during the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock worth $56,998,000 after purchasing an additional 30,994 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Up 0.7 %

Shares of NYSE:MEI opened at $9.72 on Friday. The firm has a market capitalization of $342.53 million, a PE ratio of -2.41 and a beta of 0.76. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $25.34. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The firm’s 50-day moving average is $10.43 and its two-hundred day moving average is $10.94.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The business had revenue of $258.50 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.06 earnings per share. Analysts predict that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Announces Dividend

The business 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 annualized dividend and a yield of 5.76%. Methode Electronics’s dividend payout ratio (DPR) is -13.90%.

Insider Buying and Selling at Methode Electronics

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MEI. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird lowered their price objective 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.

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.