Y Intercept Hong Kong Ltd Raises Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Y Intercept Hong Kong Ltd lifted its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 73.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,161 shares of the electronics maker’s stock after buying an additional 28,799 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Methode Electronics were worth $804,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Diversified Trust Co purchased a new stake in Methode Electronics in the 4th quarter valued at $126,000. Pinnacle Associates Ltd. purchased a new stake in Methode Electronics in the 3rd quarter valued at $132,000. Intech Investment Management LLC purchased a new stake in Methode Electronics in the 3rd quarter valued at $178,000. SG Americas Securities LLC purchased a new stake in Methode Electronics in the 4th quarter valued at $209,000. Finally, XTX Topco Ltd purchased a new stake in Methode Electronics in the 3rd quarter valued at $254,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Performance

Shares of MEI opened at $10.95 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75. The stock has a market capitalization of $390.34 million, a P/E ratio of -4.33 and a beta of 0.76. The company’s fifty day moving average is $11.45 and its two-hundred day moving average is $10.98. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $21.86.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 5th. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.31. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the company posted $0.06 EPS. On average, sell-side analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.12%. Methode Electronics’s dividend payout ratio (DPR) is presently -22.13%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Sidoti upgraded shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target for the company in a research report on Tuesday. Robert W. Baird upped their price target on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Friday, December 6th.

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.