Janney Montgomery Scott LLC cut its position in shares of Methode Electronics Inc. (NYSE:MEI) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,495 shares of the electronics maker’s stock after selling 704 shares during the period. Janney Montgomery Scott LLC’s holdings in Methode Electronics were worth $763,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Private Capital Group LLC boosted its stake in Methode Electronics by 155.2% during the first quarter. Private Capital Group LLC now owns 906 shares of the electronics maker’s stock valued at $26,000 after buying an additional 551 shares during the last quarter. Versant Capital Management Inc boosted its stake in Methode Electronics by 3,282.1% during the first quarter. Versant Capital Management Inc now owns 947 shares of the electronics maker’s stock valued at $27,000 after buying an additional 919 shares during the last quarter. First Interstate Bank boosted its stake in Methode Electronics by 13.4% during the fourth quarter. First Interstate Bank now owns 4,311 shares of the electronics maker’s stock valued at $100,000 after buying an additional 510 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Methode Electronics by 328.8% during the first quarter. BNP Paribas Arbitrage SA now owns 8,306 shares of the electronics maker’s stock valued at $239,000 after buying an additional 6,369 shares during the last quarter. Finally, Brinker Capital Inc. bought a new position in Methode Electronics during the first quarter valued at approximately $265,000. 96.70% of the stock is owned by institutional investors.

In related news, CAO Amit N. Patel acquired 1,021 shares of the stock in a transaction dated Tuesday, March 26th. The stock was acquired at an average cost of $27.54 per share, with a total value of $28,118.34. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.40% of the stock is owned by company insiders.

NYSE:MEI opened at $27.32 on Wednesday. The company has a market capitalization of $1.02 billion, a PE ratio of 9.11 and a beta of 1.43. Methode Electronics Inc. has a 1 year low of $20.99 and a 1 year high of $45.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 1.83.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 7th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.23. The business had revenue of $246.90 million during the quarter, compared to analyst estimates of $259.29 million. Methode Electronics had a return on equity of 18.64% and a net margin of 10.76%. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. Research analysts expect that Methode Electronics Inc. will post 2.89 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Thursday, April 11th. Methode Electronics’s payout ratio is 14.67%.

Several equities research analysts have recently issued reports on MEI shares. Craig Hallum raised Methode Electronics from a “hold” rating to a “buy” rating and raised their price objective for the company from $25.00 to $42.00 in a research note on Friday, March 8th. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $40.25.

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Methode Electronics Company Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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

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