Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd lifted its holdings in Methode Electronics, Inc. (NYSE:MEI) by 73.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,161 shares of the electronics maker’s stock after purchasing an additional 28,799 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.19% of Methode Electronics worth $804,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ieq Capital LLC acquired a new position in shares of Methode Electronics in the fourth quarter valued at approximately $304,000. Empowered Funds LLC grew its holdings in shares of Methode Electronics by 5.1% in 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 in the last quarter. Kingsview Wealth Management LLC acquired a new position in shares of Methode Electronics in the fourth quarter valued at approximately $3,678,000. SG Americas Securities LLC acquired a new position in shares of Methode Electronics in the fourth quarter valued at approximately $209,000. Finally, Diversified Trust Co acquired a new position in shares of Methode Electronics in the fourth quarter valued at approximately $126,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday. 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 report on Friday, December 6th.

Methode Electronics Trading Up 1.6 %

NYSE MEI opened at $10.95 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $21.86. The stock has a market capitalization of $390.34 million, a PE ratio of -4.33 and a beta of 0.76. The firm has a 50 day moving average of $11.45 and a two-hundred day moving average of $10.98.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping 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 previous year, the firm posted $0.06 earnings per share. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $0.14 per share. The ex-dividend date was Friday, January 17th. This represents a $0.56 annualized dividend and a dividend yield of 5.12%. Methode Electronics’s dividend payout ratio is presently -22.13%.

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.