Legato Capital Management LLC Cuts Position in Methode Electronics, Inc. (NYSE:MEI)

Legato Capital Management LLC decreased its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 44.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 36,288 shares of the electronics maker’s stock after selling 29,019 shares during the quarter. Legato Capital Management LLC owned 0.10% of Methode Electronics worth $428,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC boosted its holdings in Methode Electronics by 5.9% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock worth $13,440,000 after purchasing an additional 62,470 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after acquiring an additional 20,487 shares during the last quarter. Walleye Capital LLC boosted its stake in shares of Methode Electronics by 86.6% during the 3rd quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after acquiring an additional 155,147 shares during the last quarter. Kingsview Wealth Management LLC purchased a new position in shares of Methode Electronics during the 4th quarter valued at $3,678,000. Finally, Algert Global LLC lifted its stake in shares of Methode Electronics by 228.2% during the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock valued at $3,272,000 after buying an additional 190,203 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Performance

Methode Electronics stock opened at $10.35 on Friday. The company’s 50-day moving average price is $11.84 and its 200-day moving average price is $10.99. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $22.20. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The company has a market cap of $368.91 million, a PE ratio of -4.09 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same quarter in the prior year, the business posted $0.06 EPS. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $0.14 dividend. The ex-dividend date was Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 5.41%. Methode Electronics’s dividend payout ratio is currently -22.13%.

Analyst Ratings Changes

Separately, Robert W. Baird boosted their price target on shares of Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th.

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.