Penn Capital Management Company LLC Makes New $1.34 Million Investment in Methode Electronics, Inc. $MEI

Penn Capital Management Company LLC acquired a new position in Methode Electronics, Inc. (NYSE:MEI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 177,518 shares of the electronics maker’s stock, valued at approximately $1,340,000. Penn Capital Management Company LLC owned about 0.50% of Methode Electronics as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Methode Electronics during the third quarter valued at approximately $298,000. Verition Fund Management LLC raised its position in Methode Electronics by 120.6% in the 3rd quarter. Verition Fund Management LLC now owns 64,127 shares of the electronics maker’s stock valued at $484,000 after buying an additional 35,060 shares during the last quarter. Sherbrooke Park Advisers LLC purchased a new stake in Methode Electronics in the 3rd quarter valued at $139,000. Numerai GP LLC bought a new position in Methode Electronics during the 3rd quarter valued at $207,000. Finally, Mercer Global Advisors Inc. ADV bought a new position in Methode Electronics during the 3rd quarter valued at $136,000. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Performance

Shares of MEI opened at $5.32 on Thursday. The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $188.31 million, a price-to-earnings ratio of -2.92 and a beta of 1.06. The stock has a 50 day moving average of $7.71 and a 200 day moving average of $7.40. Methode Electronics, Inc. has a 12 month low of $5.03 and a 12 month high of $10.77.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The business had revenue of $233.70 million during the quarter, compared to analysts’ expectations of $219.44 million. Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%. As a group, sell-side analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, April 17th. Methode Electronics’s dividend payout ratio is presently -10.99%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Thursday, January 22nd. Robert W. Baird set a $8.50 price target on shares of Methode Electronics in a research report on Wednesday, January 14th. Finally, Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a report on Tuesday, December 9th. Two equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $8.50.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.