GSA Capital Partners LLP Has $1.85 Million Holdings in Methode Electronics, Inc. $MEI

GSA Capital Partners LLP cut its holdings in Methode Electronics, Inc. (NYSE:MEI) by 26.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 278,463 shares of the electronics maker’s stock after selling 98,314 shares during the quarter. GSA Capital Partners LLP’s holdings in Methode Electronics were worth $1,849,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MEI. UBS Group AG raised its holdings in shares of Methode Electronics by 887.1% in the third quarter. UBS Group AG now owns 476,974 shares of the electronics maker’s stock valued at $3,601,000 after purchasing an additional 428,654 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Methode Electronics by 54.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 832,344 shares of the electronics maker’s stock valued at $6,284,000 after purchasing an additional 293,843 shares during the last quarter. AQR Capital Management LLC boosted its position in Methode Electronics by 29.7% during the second quarter. AQR Capital Management LLC now owns 1,209,756 shares of the electronics maker’s stock valued at $11,505,000 after purchasing an additional 276,923 shares during the last quarter. Two Sigma Investments LP boosted its position in Methode Electronics by 92.9% during the third quarter. Two Sigma Investments LP now owns 454,432 shares of the electronics maker’s stock valued at $3,431,000 after purchasing an additional 218,841 shares during the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in Methode Electronics during the third quarter valued at approximately $1,340,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

MEI opened at $10.18 on Wednesday. Methode Electronics, Inc. has a 12-month low of $4.88 and a 12-month high of $15.55. The stock has a market cap of $360.57 million, a price-to-earnings ratio of -5.59 and a beta of 1.46. The business has a 50 day moving average of $7.22 and a 200-day moving average of $7.40. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). The business had revenue of $233.70 million during the quarter, compared to analyst estimates of $219.44 million. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. On average, equities research analysts expect that Methode Electronics, Inc. will post -0.89 earnings per share for the current year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were paid a dividend of $0.05 per share. The ex-dividend date was Friday, April 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.0%. Methode Electronics’s dividend payout ratio (DPR) is -10.99%.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Methode Electronics presently has an average rating of “Reduce” and an average price target of $8.50.

About Methode Electronics

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.