Denver Investment Advisors LLC acquired a new position in Methode Electronics, Inc. (NYSE:MEI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 374,764 shares of the electronics maker’s stock, valued at approximately $15,440,000.

Other institutional investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC boosted 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 last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Methode Electronics during the first quarter worth approximately $135,000. Meeder Asset Management Inc. acquired a new position in shares of Methode Electronics during the second quarter worth approximately $122,000. Victory Capital Management Inc. boosted 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 last quarter. Finally, State of Alaska Department of Revenue boosted 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 last quarter. 90.11% of the stock is owned by institutional investors and hedge funds.

Methode Electronics, Inc. (NYSE MEI) opened at 38.80 on Wednesday. The stock has a market capitalization of $1.43 billion, a PE ratio of 15.65 and a beta of 0.76. Methode Electronics, Inc. has a 1-year low of $29.85 and a 1-year high of $46.40. The company’s 50 day moving average is $40.00 and its 200-day moving average is $41.79.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, June 22nd. The electronics maker reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The business 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%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Analysts forecast that Methode Electronics, Inc. will post $2.46 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Wednesday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is 14.52%.

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A number of equities analysts have commented on the stock. B. Riley reissued a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a research note on Friday, June 23rd. BidaskClub cut shares of Methode Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday. FBR & Co reissued an “outperform” rating and issued a $49.00 price objective on shares of Methode Electronics in a research note on Tuesday, July 18th. Robert W. Baird reissued an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. Finally, Zacks Investment Research cut shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Methode Electronics has a consensus 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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