Methode Electronics, Inc. (NYSE:MEI) Position Raised by Teachers Advisors LLC
Teachers Advisors LLC boosted its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 3.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 69,172 shares of the electronics maker’s stock after buying an additional 2,052 shares during the period. Teachers Advisors LLC’s holdings in Methode Electronics were worth $3,154,000 as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Legato Capital Management LLC increased its stake in shares of Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock worth $1,490,000 after buying an additional 66,454 shares in the last quarter. Strs Ohio increased its stake in shares of Methode Electronics by 83.3% in the first quarter. Strs Ohio now owns 23,100 shares of the electronics maker’s stock worth $1,053,000 after buying an additional 10,500 shares in the last quarter. Dubuque Bank & Trust Co. purchased a new stake in shares of Methode Electronics during the first quarter worth approximately $202,000. Envestnet Asset Management Inc. increased its stake in shares of Methode Electronics by 8.3% in the first quarter. Envestnet Asset Management Inc. now owns 10,520 shares of the electronics maker’s stock worth $478,000 after buying an additional 803 shares in the last quarter. Finally, Sawgrass Asset Management LLC purchased a new stake in shares of Methode Electronics during the first quarter worth approximately $346,000. 89.42% of the stock is currently owned by institutional investors.
Shares of Methode Electronics, Inc. (NYSE:MEI) traded down 0.92% during mid-day trading on Friday, reaching $37.65. 266,968 shares of the company were exchanged. Methode Electronics, Inc. has a 12 month low of $29.85 and a 12 month high of $46.40. The company’s 50-day moving average is $40.11 and its 200 day moving average is $41.84. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 15.18 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $219.70 million during the quarter, compared to analyst estimates of $214.39 million. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The business’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Analysts predict that Methode Electronics, Inc. will post $2.46 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date was Wednesday, July 12th. Methode Electronics’s dividend payout ratio is presently 14.52%.
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MEI has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Robert W. Baird restated an “outperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. FBR & Co restated an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Tuesday, July 18th. Finally, B. Riley restated a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Methode Electronics presently has a consensus rating of “Hold” and a consensus 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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