Strs Ohio raised its stake in Methode Electronics, Inc. (NYSE:MEI) by 6.1% during the second quarter, Holdings Channel reports. The institutional investor owned 24,500 shares of the electronics maker’s stock after buying an additional 1,400 shares during the period. Strs Ohio’s holdings in Methode Electronics were worth $1,009,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. O Shaughnessy Asset Management LLC boosted its stake in shares of Methode Electronics by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock valued at $130,000 after buying an additional 90 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new stake in shares of Methode Electronics during the first quarter valued at approximately $135,000. Meeder Asset Management Inc. acquired a new stake in shares of Methode Electronics during the second quarter valued at approximately $122,000. Victory Capital Management Inc. boosted its stake in shares of Methode Electronics by 9.4% in the first quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock valued at $138,000 after buying an additional 260 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock valued at $185,000 after buying an additional 60 shares in the last quarter. Institutional investors own 90.11% of the company’s stock.

Methode Electronics, Inc. (NYSE MEI) opened at 38.80 on Wednesday. The company’s 50-day moving average is $40.00 and its 200-day moving average is $41.79. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40. The firm has a market cap of $1.43 billion, a PE ratio of 15.65 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The firm had revenue of $219.70 million during the quarter, compared to analyst estimates of $214.39 million. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue was up 3.2% compared to the same quarter last year. On average, analysts forecast that Methode Electronics, Inc. will post $2.46 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a dividend of $0.09 per share. The ex-dividend date was Wednesday, July 12th. This represents a $0.36 annualized dividend and a yield of 0.93%. Methode Electronics’s payout ratio is 14.52%.

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Several equities research analysts have recently commented on the stock. B. Riley reiterated a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a research report on Friday, June 23rd. BidaskClub cut shares of Methode Electronics from a “sell” rating to a “strong sell” rating in a research report on Saturday. FBR & Co reiterated an “outperform” rating and set a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, July 18th. Robert W. Baird reiterated an “outperform” rating and set a $47.00 price target (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. Finally, Zacks Investment Research cut shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average 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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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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