Penn Capital Management Company LLC Takes $1.34 Million Position in Methode Electronics, Inc. $MEI

Penn Capital Management Company LLC acquired a new position in Methode Electronics, Inc. (NYSE:MEI) in the third quarter, HoldingsChannel.com reports. The institutional investor acquired 177,518 shares of the electronics maker’s stock, valued at approximately $1,340,000.

A number of other large investors have also added to or reduced their stakes in the stock. Empowered Funds LLC raised its holdings in shares of Methode Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock valued at $812,000 after purchasing an additional 9,787 shares during the last quarter. Strs Ohio bought a new position in Methode Electronics in the 1st quarter worth $133,000. Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Methode Electronics by 98.2% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,219 shares of the electronics maker’s stock worth $497,000 after buying an additional 25,872 shares during the period. LSV Asset Management lifted its holdings in Methode Electronics by 37.2% during the second quarter. LSV Asset Management now owns 168,100 shares of the electronics maker’s stock valued at $1,599,000 after purchasing an additional 45,600 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Methode Electronics during the 2nd quarter valued at $132,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEI. Robert W. Baird set a $8.50 target price on shares of Methode Electronics in a report on Wednesday, January 14th. Zacks Research raised shares of Methode Electronics to a “hold” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Methode Electronics presently has an average rating of “Reduce” and an average target price of $8.50.

Methode Electronics Price Performance

Shares of NYSE MEI opened at $5.32 on Thursday. The business’s 50 day moving average price is $7.71 and its 200 day moving average price is $7.40. The firm has a market cap of $188.31 million, a P/E ratio of -2.92 and a beta of 1.06. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50. Methode Electronics, Inc. has a 52 week low of $5.03 and a 52 week high of $10.77.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%.The company had revenue of $233.70 million during the quarter, compared to analysts’ expectations of $219.44 million. On average, sell-side analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, April 17th. This represents a $0.20 annualized dividend and a dividend yield of 3.8%. Methode Electronics’s payout ratio is presently -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.