Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Aigen Investment Management LP

Aigen Investment Management LP increased its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 72.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,241 shares of the electronics maker’s stock after purchasing an additional 8,506 shares during the period. Aigen Investment Management LP owned approximately 0.06% of Methode Electronics worth $460,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Methode Electronics by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,671,072 shares of the electronics maker’s stock worth $106,734,000 after purchasing an additional 201,129 shares during the period. Heartland Advisors Inc. increased its holdings in Methode Electronics by 40.4% in the fourth quarter. Heartland Advisors Inc. now owns 256,295 shares of the electronics maker’s stock valued at $6,098,000 after buying an additional 73,715 shares in the last quarter. Kettle Hill Capital Management LLC acquired a new stake in shares of Methode Electronics during the 3rd quarter valued at approximately $1,544,000. Federated Hermes Inc. purchased a new stake in shares of Methode Electronics during the 4th quarter worth approximately $1,603,000. Finally, Numerai GP LLC acquired a new stake in shares of Methode Electronics in the 3rd quarter worth approximately $4,507,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Sidoti reissued a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a report on Thursday, March 7th. Jefferies Financial Group initiated coverage on shares of Methode Electronics in a research note on Tuesday, April 9th. They issued a “hold” rating and a $12.00 price objective on the stock.

Methode Electronics Trading Up 1.8 %

Shares of MEI stock opened at $11.93 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.74 and a quick ratio of 1.85. The firm has a 50-day moving average price of $12.03 and a 200 day moving average price of $18.24. Methode Electronics, Inc. has a twelve month low of $10.83 and a twelve month high of $46.58.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.40). Methode Electronics had a negative net margin of 5.09% and a positive return on equity of 0.07%. The firm had revenue of $259.50 million during the quarter, compared to analyst estimates of $288.50 million. During the same period in the prior year, the firm earned $0.54 EPS. As a group, equities research analysts expect that Methode Electronics, Inc. will post -0.41 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.69%. The ex-dividend date was Thursday, April 11th. Methode Electronics’s dividend payout ratio (DPR) is -34.15%.

About Methode Electronics

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.