Versor Investments LP Acquires New Holdings in Methode Electronics, Inc. (NYSE:MEI)

Posted by on Apr 14th, 2023

Versor Investments LP acquired a new stake in shares of Methode Electronics, Inc. (NYSE:MEI – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 10,093 shares of the electronics maker’s stock, valued at approximately $448,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC boosted its holdings in Methode Electronics by 1.2% in the fourth quarter. SummerHaven Investment Management LLC now owns 22,257 shares of the electronics maker’s stock worth $988,000 after acquiring an additional 255 shares in the last quarter. QV Investors Inc. lifted its holdings in Methode Electronics by 5.2% in the fourth quarter. QV Investors Inc. now owns 5,910 shares of the electronics maker’s stock valued at $262,000 after acquiring an additional 290 shares during the period. Citigroup Inc. lifted its holdings in Methode Electronics by 0.9% in the first quarter. Citigroup Inc. now owns 37,354 shares of the electronics maker’s stock valued at $1,616,000 after acquiring an additional 315 shares during the period. Captrust Financial Advisors lifted its holdings in Methode Electronics by 9.7% in the second quarter. Captrust Financial Advisors now owns 4,195 shares of the electronics maker’s stock valued at $155,000 after acquiring an additional 371 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Methode Electronics by 10.2% in the third quarter. Two Sigma Investments LP now owns 6,328 shares of the electronics maker’s stock valued at $235,000 after acquiring an additional 585 shares during the period. Institutional investors own 95.93% of the company’s stock.

Methode Electronics Trading Up 0.7 %

Shares of MEI stock opened at $42.88 on Friday. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.51 and a quick ratio of 2.60. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 18.64 and a beta of 1.12. The stock has a 50 day simple moving average of $45.53 and a 200-day simple moving average of $44.18. Methode Electronics, Inc. has a 1-year low of $33.91 and a 1-year high of $51.38.

Methode Electronics (NYSE:MEI – Get Rating) last announced its earnings results on Thursday, March 9th. The electronics maker reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.14). Methode Electronics had a return on equity of 9.29% and a net margin of 7.30%. The business had revenue of $280.10 million for the quarter, compared to analyst estimates of $284.50 million. On average, equities research analysts expect that Methode Electronics, Inc. will post 2.53 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, April 13th. Methode Electronics’s dividend payout ratio is currently 24.35%.

Analyst Ratings Changes

MEI has been the subject of a number of analyst reports. StockNews.com initiated coverage on Methode Electronics in a report on Thursday, March 16th. They issued a “buy” rating for the company. Robert W. Baird decreased their price target on Methode Electronics from $52.00 to $49.00 in a report on Monday, March 13th.

Methode Electronics Company Profile

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Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.

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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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