Jane Street Group LLC Decreases Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Jane Street Group LLC lessened its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 16.1% during the third quarter, HoldingsChannel.com reports. The fund owned 320,290 shares of the electronics maker’s stock after selling 61,581 shares during the quarter. Jane Street Group LLC’s holdings in Methode Electronics were worth $3,831,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Federated Hermes Inc. boosted its position in Methode Electronics by 128.1% in the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after purchasing an additional 949,616 shares during the last quarter. American Century Companies Inc. grew its position in Methode Electronics by 29.5% during the second quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after buying an additional 76,391 shares during the period. Verition Fund Management LLC increased its holdings in Methode Electronics by 263.2% during the third quarter. Verition Fund Management LLC now owns 52,796 shares of the electronics maker’s stock valued at $631,000 after buying an additional 38,259 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Methode Electronics by 5.9% in 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 acquiring an additional 62,470 shares during the period. Finally, Hsbc Holdings PLC grew its position in shares of Methode Electronics by 58.8% during the 2nd quarter. Hsbc Holdings PLC now owns 35,157 shares of the electronics maker’s stock valued at $361,000 after acquiring an additional 13,014 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

MEI has been the topic of several recent research reports. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird lifted their price target on shares of Methode Electronics from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Friday, December 6th.

Insiders Place Their Bets

In related news, Director Mary A. Lindsey acquired 8,800 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were purchased at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares in the company, valued at $295,538.60. The trade was a 51.25 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.40% of the company’s stock.

Methode Electronics Stock Down 4.4 %

Shares of Methode Electronics stock opened at $12.09 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. The stock has a market cap of $431.09 million, a price-to-earnings ratio of -4.78 and a beta of 0.81. The firm’s 50-day moving average is $10.70 and its two-hundred day moving average is $10.85. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $23.41.

Methode Electronics (NYSE:MEI) last posted its earnings results 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 return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the firm earned $0.06 EPS. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 17th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 4.63%. Methode Electronics’s payout ratio is -22.13%.

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.