Methode Electronics, Inc. (NYSE:MEI) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in Methode Electronics, Inc. (NYSE:MEI) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 379,416 shares of the electronics maker’s stock after selling 82,383 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Methode Electronics were worth $4,473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Verition Fund Management LLC increased its stake in Methode Electronics by 263.2% during the 3rd quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock worth $631,000 after buying an additional 38,259 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Methode Electronics by 5.9% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,123,760 shares of the electronics maker’s stock worth $13,440,000 after purchasing an additional 62,470 shares in the last quarter. Walleye Capital LLC raised its stake in Methode Electronics by 86.6% in the 3rd quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock valued at $3,999,000 after purchasing an additional 155,147 shares during the last quarter. Barclays PLC lifted its holdings in Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock valued at $1,530,000 after purchasing an additional 67,656 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in Methode Electronics by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 802,728 shares of the electronics maker’s stock worth $9,603,000 after purchasing an additional 20,487 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Up 0.3 %

Shares of MEI opened at $6.89 on Wednesday. Methode Electronics, Inc. has a 52-week low of $5.84 and a 52-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 stock has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $10.60. The company has a market capitalization of $245.91 million, a PE ratio of -2.72 and a beta of 0.77.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the business posted ($0.33) earnings per share. As a group, equities analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Friday, April 18th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 8.13%. The ex-dividend date is Thursday, April 17th. Methode Electronics’s dividend payout ratio is presently -21.46%.

Insider Buying and Selling

In related news, SVP Lars Ullrich acquired 15,150 shares of Methode Electronics stock in a transaction that occurred on Friday, March 14th. The shares were purchased at an average cost of $6.69 per share, for a total transaction of $101,353.50. Following the acquisition, the senior vice president now owns 15,150 shares in the company, valued at approximately $101,353.50. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the stock in a transaction on Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, with a total value of $211,455.18. Following the purchase, the chief executive officer now owns 32,733 shares of the company’s stock, valued at $211,455.18. This trade represents a ∞ 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.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. 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 research report on Tuesday, February 25th. Robert W. Baird cut their price objective on shares of Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday, March 7th.

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.