Citigroup Inc. trimmed its stake in Methode Electronics, Inc. (NYSE:MEI) by 9.6% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 37,769 shares of the electronics maker’s stock after selling 4,005 shares during the period. Citigroup Inc. owned about 0.10% of Methode Electronics worth $1,555,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC lifted its holdings in shares of Methode Electronics by 22.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 500 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of 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 period. Ameritas Investment Partners Inc. purchased a new position in shares of Methode Electronics during the 1st quarter worth approximately $135,000. Meeder Asset Management Inc. purchased a new position in shares of Methode Electronics during the 2nd quarter worth approximately $122,000. Finally, Riverhead Capital Management LLC increased its holdings in Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 1,396 shares during the last quarter. 89.80% of the stock is currently owned by institutional investors and hedge funds.

Several analysts recently weighed in on MEI shares. BidaskClub upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. FBR & Co restated a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. ValuEngine lowered Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. Finally, Robert W. Baird restated an “outperform” rating and set a $47.00 price target (down from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Methode Electronics presently has a consensus rating of “Buy” and an average price target of $48.25.

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Shares of Methode Electronics, Inc. (MEI) opened at 42.35 on Monday. Methode Electronics, Inc. has a 12 month low of $29.85 and a 12 month high of $46.40. The firm has a market cap of $1.56 billion, a PE ratio of 17.22 and a beta of 0.76. The stock’s 50 day moving average is $38.80 and its 200 day moving average is $41.19.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a $0.09 dividend. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.85%. Methode Electronics’s dividend payout ratio (DPR) is 14.63%.

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.

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

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