Credit Suisse AG Has $1.82 Million Position in Methode Electronics, Inc. (MEI)
Credit Suisse AG decreased its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 29.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 39,875 shares of the electronics maker’s stock after selling 16,835 shares during the period. Credit Suisse AG’s holdings in Methode Electronics were worth $1,819,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Methode Electronics by 117,664.2% in the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after buying an additional 4,408,878 shares during the last quarter. Opus Capital Group LLC bought a new position in shares of Methode Electronics during the first quarter worth about $7,306,000. Clark Capital Management Group Inc. bought a new position in shares of Methode Electronics during the first quarter worth about $6,901,000. Vanguard Group Inc. boosted its position in shares of Methode Electronics by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after buying an additional 131,039 shares during the last quarter. Finally, Systematic Financial Management LP boosted its position in shares of Methode Electronics by 71.2% in the first quarter. Systematic Financial Management LP now owns 241,715 shares of the electronics maker’s stock worth $11,022,000 after buying an additional 100,500 shares during the last quarter. 89.42% of the stock is owned by institutional investors.
Shares of Methode Electronics, Inc. (MEI) traded down 2.50% during mid-day trading on Friday, hitting $37.05. The stock had a trading volume of 107,583 shares. Methode Electronics, Inc. has a 1-year low of $29.85 and a 1-year high of $46.40. The stock’s 50-day moving average price is $40.18 and its 200 day moving average price is $41.86. The company has a market capitalization of $1.36 billion, a P/E ratio of 14.94 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share 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 return on equity of 18.81% and a net margin of 11.38%. The business’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, analysts predict that Methode Electronics, Inc. will post $2.46 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were paid a $0.09 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.95%. Methode Electronics’s payout ratio is 14.52%.
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A number of research analysts have issued reports on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. BidaskClub cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Robert W. Baird reissued an “outperform” rating and set a $47.00 price objective (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. FBR & Co reissued an “outperform” rating and set a $49.00 price objective on shares of Methode Electronics in a report on Tuesday, July 18th. Finally, B. Riley reissued a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus 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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