TIAA CREF Investment Management LLC increased its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 38.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,518 shares of the electronics maker’s stock after acquiring an additional 71,388 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.70% of Methode Electronics worth $10,610,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in Methode Electronics during the 2nd quarter worth $122,000. Riverhead Capital Management LLC grew its position in Methode Electronics by 87.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock worth $123,000 after purchasing an additional 1,396 shares during the last quarter. O Shaughnessy Asset Management LLC grew 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 purchasing an additional 90 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Methode Electronics during the 1st quarter worth $135,000. Finally, Victory Capital Management Inc. grew its position in Methode Electronics by 9.4% during the 1st quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock worth $138,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 89.80% of the company’s stock.

Shares of Methode Electronics, Inc. (NYSE MEI) opened at 44.65 on Friday. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40. The stock has a market cap of $1.64 billion, a P/E ratio of 18.15 and a beta of 0.76. The stock has a 50 day moving average of $39.98 and a 200 day moving average of $41.07.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a $0.09 dividend. The ex-dividend date is Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. Methode Electronics’s dividend payout ratio is presently 14.63%.

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Several research analysts have issued reports on the stock. B. Riley reissued a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a research report on Wednesday, June 28th. BidaskClub downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. ValuEngine raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. 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 research report on Monday, June 19th. Finally, FBR & Co reissued an “outperform” rating and set a $49.00 price objective on shares of Methode Electronics in a research report on Tuesday, July 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $48.33.

Methode Electronics 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.

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

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