Invenomic Capital Management LP Trims Stake in Methode Electronics, Inc. (NYSE:MEI)

Invenomic Capital Management LP cut its stake in Methode Electronics, Inc. (NYSE:MEI) by 2.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 95,499 shares of the electronics maker’s stock after selling 2,655 shares during the period. Invenomic Capital Management LP owned about 0.27% of Methode Electronics worth $1,163,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Methode Electronics by 4.5% in the third 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 last quarter. BNP Paribas Financial Markets lifted its stake in Methode Electronics by 222.6% in the first quarter. BNP Paribas Financial Markets now owns 220,932 shares of the electronics maker’s stock worth $2,691,000 after purchasing an additional 152,446 shares during the last quarter. Bridge City Capital LLC lifted its stake in Methode Electronics by 57.7% in the first quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock worth $2,992,000 after purchasing an additional 89,902 shares during the last quarter. Nordea Investment Management AB lifted its stake in Methode Electronics by 58.8% in the first quarter. Nordea Investment Management AB now owns 224,600 shares of the electronics maker’s stock worth $2,700,000 after purchasing an additional 83,151 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its stake in Methode Electronics by 40.4% in the fourth quarter. Heartland Advisors Inc. now owns 256,295 shares of the electronics maker’s stock worth $6,098,000 after purchasing an additional 73,715 shares during the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, 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 target for the company.

Methode Electronics Trading Up 1.0 %

Shares of NYSE:MEI traded up $0.13 during midday trading on Wednesday, hitting $12.87. 134,380 shares of the stock traded hands, compared to its average volume of 607,402. The stock has a market capitalization of $454.57 million, a PE ratio of -3.66 and a beta of 0.72. The business’s 50 day moving average is $11.30 and its two-hundred day moving average is $14.29. The company has a quick ratio of 1.95, a current ratio of 2.76 and a debt-to-equity ratio of 0.43. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $33.86.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date was Friday, July 12th. Methode Electronics’s payout ratio is currently -16.05%.

Methode Electronics 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.