Royce & Associates LP lessened its position in Methode Electronics, Inc. (NYSE:MEI – Get Rating) by 60.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 32,773 shares of the electronics maker’s stock after selling 50,102 shares during the period. Royce & Associates LP owned about 0.09% of Methode Electronics worth $1,417,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its position in Methode Electronics by 4.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,307,784 shares of the electronics maker’s stock valued at $64,304,000 after purchasing an additional 53,431 shares during the period. Ariel Investments LLC lifted its position in Methode Electronics by 1.6% during the fourth quarter. Ariel Investments LLC now owns 1,080,834 shares of the electronics maker’s stock valued at $53,145,000 after purchasing an additional 16,986 shares during the period. Geode Capital Management LLC lifted its position in Methode Electronics by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 650,627 shares of the electronics maker’s stock valued at $31,991,000 after purchasing an additional 5,377 shares during the period. Westwood Holdings Group Inc. bought a new position in Methode Electronics during the fourth quarter valued at approximately $31,809,000. Finally, Invesco Ltd. lifted its position in Methode Electronics by 50.4% during the fourth quarter. Invesco Ltd. now owns 444,343 shares of the electronics maker’s stock valued at $21,848,000 after purchasing an additional 148,985 shares during the period. Institutional investors own 95.41% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of Methode Electronics from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th. StockNews.com downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, June 15th.
Insider Transactions at Methode Electronics
Methode Electronics Stock Down 0.9 %
MEI opened at $41.15 on Friday. The company has a current ratio of 3.34, a quick ratio of 2.49 and a debt-to-equity ratio of 0.22. Methode Electronics, Inc. has a 1-year low of $33.91 and a 1-year high of $49.94. The company has a market capitalization of $1.58 billion, a PE ratio of 15.30 and a beta of 1.15. The firm’s 50 day simple moving average is $39.46 and its two-hundred day simple moving average is $42.52.
Methode Electronics (NYSE:MEI – Get Rating) last announced its quarterly earnings data on Thursday, June 23rd. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The firm had revenue of $288.70 million during the quarter, compared to analysts’ expectations of $289.10 million. Methode Electronics had a net margin of 8.78% and a return on equity of 11.15%. As a group, equities analysts forecast that Methode Electronics, Inc. will post 2.88 EPS for the current year.
Methode Electronics Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, July 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%. Methode Electronics’s dividend payout ratio (DPR) is presently 20.82%.
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.
- Get a free copy of the StockNews.com research report on Methode Electronics (MEI)
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