Point72 Asia Singapore Pte. Ltd. Sells 25,100 Shares of Methode Electronics, Inc. (NYSE:MEI)

Point72 Asia Singapore Pte. Ltd. reduced its stake in Methode Electronics, Inc. (NYSE:MEI) by 44.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,277 shares of the electronics maker’s stock after selling 25,100 shares during the quarter. Point72 Asia Singapore Pte. Ltd. owned about 0.09% of Methode Electronics worth $374,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its holdings in Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after purchasing an additional 949,616 shares during the last quarter. American Century Companies Inc. increased its position in Methode Electronics by 29.5% during the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock worth $3,469,000 after buying an additional 76,391 shares during the period. Hsbc Holdings PLC lifted its holdings in shares of Methode Electronics by 58.8% during the second quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock worth $361,000 after buying an additional 13,014 shares in the last quarter. Versor Investments LP bought a new stake in shares of Methode Electronics in the second quarter valued at about $337,000. Finally, AQR Capital Management LLC grew its stake in shares of Methode Electronics by 124.1% in the second quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker’s stock valued at $2,331,000 after acquiring an additional 124,677 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Up 4.8 %

Shares of Methode Electronics stock opened at $11.44 on Tuesday. The firm’s 50-day moving average price is $10.36 and its two-hundred day moving average price is $10.79. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a 12-month low of $8.54 and a 12-month high of $25.34.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data 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). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The firm had revenue of $258.50 million during the quarter, compared to the consensus estimate of $267.66 million. During the same period last year, the business earned $0.06 earnings per share. As a group, sell-side analysts predict that Methode Electronics, Inc. will post -0.68 earnings per share for the current year.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 4.90%. Methode Electronics’s dividend payout ratio is currently -13.90%.

Wall Street Analysts Forecast Growth

MEI has been the subject of a number of recent research reports. Robert W. Baird cut their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, September 6th. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Insider Activity at Methode Electronics

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

Methode Electronics Company 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.