Trexquant Investment LP purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 27,047 shares of the electronics maker’s stock, valued at approximately $1,114,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Methode Electronics during the second quarter worth approximately $122,000. O Shaughnessy Asset Management LLC raised its position in shares of Methode Electronics by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock worth $130,000 after buying an additional 90 shares during the period. Ameritas Investment Partners Inc. bought a new position in shares of Methode Electronics during the first quarter worth approximately $135,000. Victory Capital Management Inc. raised its position in shares of Methode Electronics by 9.4% in the first quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock worth $138,000 after buying an additional 260 shares during the period. Finally, State of Alaska Department of Revenue raised its position in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock worth $185,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 89.42% of the company’s stock.

Shares of Methode Electronics, Inc. (NYSE:MEI) opened at 38.65 on Thursday. The company’s 50 day moving average is $40.20 and its 200 day moving average is $41.89. Methode Electronics, Inc. has a 52-week low of $29.85 and a 52-week high of $46.40. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 15.58 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, June 22nd. The electronics maker reported $0.69 EPS for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $219.70 million during the quarter, compared to analysts’ expectations of $214.39 million. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. Methode Electronics’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. Analysts anticipate that Methode Electronics, Inc. will post $2.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were paid a dividend of $0.09 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.36 annualized dividend and a yield of 0.93%. Methode Electronics’s dividend payout ratio is currently 14.52%.

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MEI has been the topic of a number of research reports. B. Riley reiterated a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Robert W. Baird restated an “outperform” rating and set a $47.00 target price (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. Finally, FBR & Co restated an “outperform” rating and set a $49.00 target price on shares of Methode Electronics in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $46.00.

About Methode Electronics

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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