Walleye Capital LLC Has $4 Million Holdings in Methode Electronics, Inc. (NYSE:MEI)

Walleye Capital LLC grew its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 86.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 334,385 shares of the electronics maker’s stock after buying an additional 155,147 shares during the quarter. Walleye Capital LLC owned approximately 0.95% of Methode Electronics worth $3,999,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of MEI. Price T Rowe Associates Inc. MD increased its position in Methode Electronics by 4.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock valued at $328,000 after acquiring an additional 1,163 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Methode Electronics by 6.0% during the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock valued at $233,000 after purchasing an additional 1,281 shares during the last quarter. Quest Partners LLC increased its holdings in shares of Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after purchasing an additional 1,758 shares in the last quarter. nVerses Capital LLC raised its position in Methode Electronics by 1,600.0% in the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock worth $41,000 after purchasing an additional 3,200 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Methode Electronics by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker’s stock worth $909,000 after buying an additional 3,288 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MEI shares. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird lowered their price objective on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th.

Insider Buying and Selling

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

Methode Electronics Price Performance

Methode Electronics stock opened at $10.92 on Monday. The firm has a market capitalization of $384.82 million, a P/E ratio of -2.71 and a beta of 0.76. The business has a 50-day moving average of $10.36 and a 200-day moving average of $10.80. 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 1 year low of $8.54 and a 1 year high of $25.34.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). The business had revenue of $258.50 million during the quarter, compared to the consensus estimate 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. On average, equities analysts anticipate that Methode Electronics, Inc. will post -0.68 EPS for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Friday, October 18th. Methode Electronics’s dividend payout ratio is -13.90%.

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.