Dimensional Fund Advisors LP Sells 54,557 Shares of Methode Electronics, Inc. (NYSE:MEI)

Dimensional Fund Advisors LP cut its holdings in Methode Electronics, Inc. (NYSE:MEI) by 4.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,226,663 shares of the electronics maker’s stock after selling 54,557 shares during the period. Dimensional Fund Advisors LP’s holdings in Methode Electronics were worth $14,463,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC raised its stake in shares of Methode Electronics by 196.8% in the 4th quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker’s stock valued at $53,000 after acquiring an additional 2,990 shares in the last quarter. Diversified Trust Co acquired a new position in Methode Electronics during the fourth quarter valued at approximately $126,000. Inlight Wealth Management LLC bought a new position in shares of Methode Electronics in the fourth quarter valued at approximately $163,000. LSV Asset Management bought a new position in shares of Methode Electronics in the fourth quarter valued at approximately $169,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Methode Electronics in the fourth quarter worth $209,000. 95.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MEI has been the topic of several recent analyst reports. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, February 25th. Robert W. Baird dropped their price objective on Methode Electronics from $9.00 to $7.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 15th.

Insider Activity at Methode Electronics

In other Methode Electronics news, CEO Jonathan B. Degaynor purchased 32,733 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was purchased at an average price of $6.46 per share, for a total transaction of $211,455.18. Following the completion of the purchase, the chief executive officer now directly owns 32,733 shares in the company, valued at approximately $211,455.18. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Lars Ullrich acquired 15,150 shares of the stock in a transaction dated Friday, March 14th. The stock was bought at an average price of $6.69 per share, for a total transaction of $101,353.50. Following the completion of the purchase, 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 disclosure for this purchase can be found here. 1.40% of the stock is currently owned by corporate insiders.

Methode Electronics Trading Up 7.2 %

Shares of MEI stock opened at $7.07 on Friday. The firm has a market capitalization of $252.16 million, a P/E ratio of -2.79 and a beta of 0.88. Methode Electronics, Inc. has a 1 year low of $5.08 and a 1 year high of $17.45. The firm’s fifty day simple moving average is $6.39 and its 200 day simple moving average is $9.48. The company has a current ratio of 2.75, a quick ratio of 1.73 and a debt-to-equity ratio of 0.46.

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

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date was Thursday, April 17th. Methode Electronics’s dividend payout ratio is presently -21.46%.

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.