Connor Clark & Lunn Investment Management Ltd. Boosts Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 51.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,212 shares of the electronics maker’s stock after buying an additional 19,051 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.16% of Methode Electronics worth $663,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in MEI. Kingsview Wealth Management LLC purchased a new position in shares of Methode Electronics during the 4th quarter valued at about $3,678,000. Algert Global LLC lifted its position in shares of Methode Electronics by 228.2% during the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock valued at $3,272,000 after buying an additional 190,203 shares in the last quarter. Walleye Capital LLC lifted its position in shares of Methode Electronics by 86.6% during the 3rd quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock valued at $3,999,000 after buying an additional 155,147 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Methode Electronics in the 4th quarter worth approximately $1,445,000. Finally, Barclays PLC lifted its holdings in Methode Electronics by 112.3% in the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock worth $1,530,000 after purchasing an additional 67,656 shares in the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MEI has been the topic of a number of research analyst reports. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price target on the stock in a report on Tuesday, February 25th. Robert W. Baird lowered their price target on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock in a report on Friday, March 7th.

Methode Electronics Stock Down 0.9 %

Shares of MEI opened at $6.71 on Friday. The stock has a market capitalization of $239.49 million, a price-to-earnings ratio of -2.65 and a beta of 0.77. Methode Electronics, Inc. has a 1 year low of $5.84 and a 1 year high of $17.45. The business’s 50 day simple moving average is $10.08 and its 200-day simple moving average is $10.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). The firm had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period last year, the company earned ($0.33) earnings per share. As a group, equities analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 18th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.56 annualized dividend and a dividend yield of 8.35%. Methode Electronics’s dividend payout ratio (DPR) is -21.46%.

Insider Transactions at Methode Electronics

In related news, SVP Lars Ullrich bought 15,150 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were purchased at an average price of $6.69 per share, with a total value of $101,353.50. Following the transaction, the senior vice president now owns 15,150 shares in the company, valued at $101,353.50. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jonathan B. Degaynor bought 32,733 shares of the business’s stock in a transaction dated Tuesday, March 11th. The shares were bought at an average cost of $6.46 per share, for a total transaction of $211,455.18. Following the transaction, the chief executive officer now owns 32,733 shares in the company, valued at approximately $211,455.18. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

About Methode Electronics

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.