Nationwide Fund Advisors Has $2.60 Million Holdings in Methode Electronics, Inc. (MEI)
Nationwide Fund Advisors cut its position in Methode Electronics, Inc. (NYSE:MEI) by 0.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 63,023 shares of the electronics maker’s stock after selling 576 shares during the period. Nationwide Fund Advisors owned about 0.17% of Methode Electronics worth $2,597,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of MEI. BlackRock Inc. raised its holdings in Methode Electronics by 117,664.2% in the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after purchasing an additional 4,408,878 shares during the period. Denver Investment Advisors LLC acquired a new stake in shares of Methode Electronics during the second quarter worth $15,440,000. Vanguard Group Inc. raised its holdings in shares of Methode Electronics by 4.3% during the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after acquiring an additional 131,039 shares during the period. New Amsterdam Partners LLC NY acquired a new stake in shares of Methode Electronics during the second quarter worth $5,065,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of Methode Electronics by 33.5% during the second quarter. Ameriprise Financial Inc. now owns 443,393 shares of the electronics maker’s stock worth $18,268,000 after acquiring an additional 111,170 shares during the period. Institutional investors own 89.82% of the company’s stock.
MEI has been the topic of a number of research analyst reports. FBR & Co restated a “buy” rating on shares of Methode Electronics in a report on Thursday, August 31st. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Robert W. Baird reaffirmed an “outperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. Finally, ValuEngine downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $48.33.
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Shares of Methode Electronics, Inc. (NYSE:MEI) opened at 44.80 on Friday. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40. The company’s 50 day moving average is $41.06 and its 200 day moving average is $41.09. The company has a market cap of $1.65 billion, a P/E ratio of 18.21 and a beta of 0.76.
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, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $0.57 earnings per share. On average, equities analysts predict that Methode Electronics, Inc. will post $2.54 earnings per share for the current year.
The company also recently declared 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. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, October 12th. Methode Electronics’s payout ratio is 14.63%.
Methode Electronics Company 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.
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