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

Invenomic Capital Management LP lowered its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 2.7% during the 1st quarter, Holdings Channel.com reports. 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’s holdings in Methode Electronics were worth $1,163,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in shares of Methode Electronics by 512.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock valued at $28,000 after buying an additional 1,014 shares during the period. Nisa Investment Advisors LLC boosted its stake in Methode Electronics by 295.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker’s stock worth $62,000 after acquiring an additional 2,025 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Methode Electronics by 2,182.5% during the fourth quarter. International Assets Investment Management LLC now owns 5,866 shares of the electronics maker’s stock worth $133,000 after acquiring an additional 5,609 shares in the last quarter. Quest Partners LLC bought a new stake in Methode Electronics during the fourth quarter worth about $242,000. Finally, Pinnacle Associates Ltd. bought a new stake in Methode Electronics during the fourth quarter worth about $250,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group initiated coverage on shares of Methode Electronics in a research note on Tuesday, April 9th. They set a “hold” rating and a $12.00 price objective on the stock.

Methode Electronics Stock Up 1.0 %

Shares of NYSE MEI traded up $0.13 during midday trading on Wednesday, hitting $12.87. The stock had a trading volume of 134,380 shares, compared to its average volume of 607,402. The business’s 50 day moving average is $11.30 and its 200-day moving average is $14.29. The company has a market cap of $454.57 million, a P/E ratio of -3.66 and a beta of 0.72. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $33.86. 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 Dividend Announcement

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

Methode Electronics Company 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.