Versor Investments LP Reduces Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Versor Investments LP lessened its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,256 shares of the electronics maker’s stock after selling 13,844 shares during the quarter. Versor Investments LP owned approximately 0.07% of Methode Electronics worth $286,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Diversified Trust Co purchased a new stake in Methode Electronics during the fourth quarter valued at about $126,000. Pinnacle Associates Ltd. purchased a new stake in shares of Methode Electronics during the third quarter worth about $132,000. Intech Investment Management LLC purchased a new stake in Methode Electronics during the 3rd quarter worth approximately $178,000. SG Americas Securities LLC acquired a new stake in Methode Electronics in the fourth quarter valued at $209,000. Finally, XTX Topco Ltd acquired a new stake in shares of Methode Electronics in the 3rd quarter valued at about $254,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

NYSE:MEI opened at $10.01 on Tuesday. The firm has a market cap of $356.96 million, a price-to-earnings ratio of -3.96 and a beta of 0.76. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $21.65. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $11.41 and a 200-day moving average of $10.98.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the business posted $0.06 earnings per share. Analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 17th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend was Friday, January 17th. Methode Electronics’s payout ratio is -22.13%.

Wall Street Analysts Forecast Growth

MEI has been the topic of several research analyst reports. Robert W. Baird raised their price objective on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a research note on Tuesday, February 25th.

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.