Methode Electronics, Inc. $MEI Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC lifted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 66.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 296,267 shares of the electronics maker’s stock after buying an additional 118,749 shares during the period. Penn Capital Management Company LLC owned approximately 0.84% of Methode Electronics worth $1,967,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MEI. JPMorgan Chase & Co. raised its holdings in Methode Electronics by 51.8% during the third quarter. JPMorgan Chase & Co. now owns 291,065 shares of the electronics maker’s stock worth $2,198,000 after purchasing an additional 99,308 shares in the last quarter. GSA Capital Partners LLP raised its holdings in Methode Electronics by 102.0% during the third quarter. GSA Capital Partners LLP now owns 376,777 shares of the electronics maker’s stock worth $2,845,000 after purchasing an additional 190,244 shares in the last quarter. Tudor Investment Corp ET AL raised its holdings in Methode Electronics by 84.8% during the third quarter. Tudor Investment Corp ET AL now owns 162,766 shares of the electronics maker’s stock worth $1,229,000 after purchasing an additional 74,701 shares in the last quarter. Towle & Co. raised its holdings in Methode Electronics by 8.1% during the third quarter. Towle & Co. now owns 1,033,223 shares of the electronics maker’s stock worth $7,801,000 after purchasing an additional 77,302 shares in the last quarter. Finally, Mutual Advisors LLC raised its holdings in Methode Electronics by 16.4% during the fourth quarter. Mutual Advisors LLC now owns 134,649 shares of the electronics maker’s stock worth $894,000 after purchasing an additional 18,990 shares in the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $11.61 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 $411.34 million, a price-to-earnings ratio of -6.38 and a beta of 1.46. The stock’s 50 day moving average price is $7.78 and its 200 day moving average price is $7.56. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.41 and a quick ratio of 1.55.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The firm had revenue of $233.70 million for the quarter, compared to the consensus estimate of $219.44 million. Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%. Equities research analysts anticipate that Methode Electronics, Inc. will post -0.89 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 17th were issued a $0.05 dividend. The ex-dividend date of this dividend was Friday, April 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. Methode Electronics’s dividend payout ratio is currently -10.99%.

Methode Electronics Company Profile

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.