Legal & General Group Plc boosted its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 5.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,495 shares of the electronics maker’s stock after acquiring an additional 4,226 shares during the quarter. Legal & General Group Plc owned about 0.21% of Methode Electronics worth $3,161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MEI. LSV Asset Management increased its stake in Methode Electronics by 485.5% during the second quarter. LSV Asset Management now owns 1,077,402 shares of the electronics maker’s stock worth $43,419,000 after acquiring an additional 893,402 shares during the last quarter. BlackRock Inc. increased its stake in Methode Electronics by 9.1% during the second quarter. BlackRock Inc. now owns 5,068,797 shares of the electronics maker’s stock worth $204,273,000 after acquiring an additional 423,578 shares during the last quarter. Segall Bryant & Hamill LLC bought a new stake in Methode Electronics during the second quarter worth approximately $10,609,000. Integrated Investment Consultants LLC bought a new stake in Methode Electronics during the second quarter worth approximately $113,000. Finally, Royce & Associates LP increased its stake in Methode Electronics by 6.6% during the second quarter. Royce & Associates LP now owns 1,270,249 shares of the electronics maker’s stock worth $51,191,000 after acquiring an additional 79,010 shares during the last quarter. 94.64% of the stock is currently owned by institutional investors.

Several equities research analysts have weighed in on the company. TheStreet raised Methode Electronics from a “c+” rating to a “b+” rating in a research note on Monday, July 2nd. ValuEngine cut Methode Electronics from a “hold” rating to a “sell” rating in a research note on Friday, June 1st. Finally, Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $48.00.

In other news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $39.32, for a total transaction of $98,300.00. Following the transaction, the director now owns 40,450 shares of the company’s stock, valued at $1,590,494. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

Shares of NYSE MEI opened at $36.25 on Friday. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 12.08 and a beta of 1.03. Methode Electronics Inc. has a 1-year low of $36.05 and a 1-year high of $48.44. The company has a current ratio of 3.83, a quick ratio of 3.18 and a debt-to-equity ratio of 0.08.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, August 30th. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $230.69 million. Methode Electronics had a return on equity of 18.93% and a net margin of 6.49%. The company’s quarterly revenue was up 11.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.55 earnings per share. analysts predict that Methode Electronics Inc. will post 2.9 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 26th. Stockholders of record on Friday, October 12th will be paid a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, October 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.21%. Methode Electronics’s dividend payout ratio is 14.67%.

About Methode Electronics

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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