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HomeGADGETSELECTRONICSQuantbot Technologies LP Boosts Holdings in Methode Electronics, Inc. (NYSE:MEI)

Quantbot Technologies LP Boosts Holdings in Methode Electronics, Inc. (NYSE:MEI)

Quantbot Technologies LP lifted its position in shares of Methode Electronics, Inc. (NYSE:MEIFree Report) by 794.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,819 shares of the electronics maker’s stock after purchasing an additional 32,701 shares during the period. Quantbot Technologies LP owned about 0.10% of Methode Electronics worth $841,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Citigroup Inc. increased its stake in shares of Methode Electronics by 0.9% in the first quarter. Citigroup Inc. now owns 37,354 shares of the electronics maker’s stock worth $1,616,000 after buying an additional 315 shares during the last quarter. Covestor Ltd increased its stake in shares of Methode Electronics by 38.4% in the second quarter. Covestor Ltd now owns 1,327 shares of the electronics maker’s stock worth $44,000 after buying an additional 368 shares during the last quarter. Captrust Financial Advisors increased its stake in shares of Methode Electronics by 9.7% in the second quarter. Captrust Financial Advisors now owns 4,195 shares of the electronics maker’s stock worth $155,000 after buying an additional 371 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in shares of Methode Electronics by 1.1% in the second quarter. Texas Permanent School Fund Corp now owns 33,815 shares of the electronics maker’s stock worth $1,133,000 after buying an additional 383 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its stake in shares of Methode Electronics by 1.3% in the second quarter. Aviance Capital Partners LLC now owns 30,410 shares of the electronics maker’s stock worth $1,019,000 after buying an additional 392 shares during the last quarter. 89.02% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Friday, December 8th.

Read Our Latest Stock Report on Methode Electronics

Methode Electronics Stock Performance

MEI stock opened at $20.78 on Tuesday. The company has a current ratio of 2.92, a quick ratio of 2.07 and a debt-to-equity ratio of 0.39. Methode Electronics, Inc. has a 1-year low of $20.09 and a 1-year high of $50.74. The firm has a fifty day moving average price of $21.93 and a two-hundred day moving average price of $24.97.

Methode Electronics (NYSE:MEIGet Free Report) last released its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $288.00 million for the quarter, compared to the consensus estimate of $284.94 million. Methode Electronics had a positive return on equity of 3.50% and a negative net margin of 2.28%. As a group, analysts anticipate that Methode Electronics, Inc. will post 0.27 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were issued a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 2.69%. The ex-dividend date was Thursday, January 11th. Methode Electronics’s payout ratio is currently -72.73%.

Methode Electronics Company Profile

(Free Report)

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.

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