Howe & Rusling Inc. Raises Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Howe & Rusling Inc. raised its position in Methode Electronics, Inc. (NYSE:MEI) by 83.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,817 shares of the electronics maker’s stock after purchasing an additional 22,621 shares during the quarter. Howe & Rusling Inc.’s holdings in Methode Electronics were worth $587,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Methode Electronics by 176.7% during the 4th quarter. JPMorgan Chase & Co. now owns 263,381 shares of the electronics maker’s stock valued at $3,105,000 after buying an additional 168,188 shares during the period. Prudential Financial Inc. acquired a new position in Methode Electronics in the fourth quarter valued at about $1,471,000. Fox Run Management L.L.C. purchased a new position in Methode Electronics during the fourth quarter worth about $241,000. Sei Investments Co. increased its position in shares of Methode Electronics by 19.2% during the fourth quarter. Sei Investments Co. now owns 49,440 shares of the electronics maker’s stock valued at $583,000 after acquiring an additional 7,969 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Methode Electronics by 31.4% in the 4th quarter. American Century Companies Inc. now owns 537,108 shares of the electronics maker’s stock valued at $6,333,000 after acquiring an additional 128,255 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Insider Activity

In other news, SVP Lars Ullrich acquired 15,150 shares of the company’s stock in a transaction on Friday, March 14th. The shares were bought at an average cost of $6.69 per share, with a total value of $101,353.50. Following the transaction, the senior vice president now owns 15,150 shares in the company, valued at approximately $101,353.50. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan B. Degaynor acquired 32,733 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were purchased at an average cost of $6.46 per share, with a total value of $211,455.18. Following the completion of the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

Methode Electronics Price Performance

Shares of MEI opened at $6.77 on Friday. The company has a market cap of $241.45 million, a P/E ratio of -2.67 and a beta of 0.77. Methode Electronics, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $17.45. 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 firm’s 50 day moving average price is $9.67 and its 200 day moving average price is $10.55.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The company had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the prior year, the company posted ($0.33) EPS. On average, research analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Friday, April 18th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 8.28%. The ex-dividend date is Thursday, April 17th. Methode Electronics’s dividend payout ratio is currently -21.46%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MEI. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price for the company in a report on Tuesday, February 25th. Robert W. Baird decreased their target price on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th.

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.