Alliancebernstein L.P. boosted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 1.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 137,795 shares of the electronics maker’s stock after acquiring an additional 2,390 shares during the quarter. Alliancebernstein L.P. owned 0.37% of Methode Electronics worth $5,677,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Miles Capital Inc. boosted its position in Methode Electronics by 0.3% during the 1st quarter. Miles Capital Inc. now owns 6,391 shares of the electronics maker’s stock worth $291,000 after acquiring an additional 17 shares during the period. Alps Advisors Inc. boosted its position in Methode Electronics by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock worth $447,000 after acquiring an additional 28 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Methode Electronics by 3.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock worth $130,000 after acquiring an additional 90 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Methode Electronics by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock worth $1,345,000 after acquiring an additional 117 shares during the period. Finally, First Trust Advisors LP boosted its position in Methode Electronics by 0.3% during the 1st quarter. First Trust Advisors LP now owns 45,077 shares of the electronics maker’s stock worth $2,056,000 after acquiring an additional 134 shares during the period. Hedge funds and other institutional investors own 89.80% of the company’s stock.

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Shares of Methode Electronics, Inc. (NYSE MEI) opened at 42.35 on Friday. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40. The stock’s 50 day moving average price is $38.80 and its 200 day moving average price is $41.19. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 17.22 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, August 31st. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.12. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The company had revenue of $201.20 million during the quarter, compared to the consensus estimate of $189.40 million. During the same period in the prior year, the company earned $0.57 earnings per share. The company’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts expect that Methode Electronics, Inc. will post $2.53 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. Methode Electronics’s dividend payout ratio is currently 14.63%.

MEI has been the subject of a number of research reports. FBR & Co restated a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. Zacks Investment Research lowered Methode Electronics from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. BidaskClub lowered 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 price objective (down from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. Finally, ValuEngine lowered Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. Methode Electronics currently has a consensus rating of “Buy” and a consensus price target of $48.25.

Methode Electronics Company Profile

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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