Zacks Investment Management raised its holdings in Methode Electronics, Inc. (NYSE:MEI) by 413.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,841 shares of the electronics maker’s stock after buying an additional 25,638 shares during the period. Zacks Investment Management owned 0.09% of Methode Electronics worth $1,312,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC increased its stake in shares of Methode Electronics by 22.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 500 shares during the last quarter. O Shaughnessy Asset Management LLC increased its stake 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 last quarter. Ameritas Investment Partners Inc. acquired a new position in shares of Methode Electronics during the 1st quarter worth about $135,000. Meeder Asset Management Inc. acquired a new position in shares of Methode Electronics during the 2nd quarter worth about $122,000. Finally, Riverhead Capital Management LLC increased its stake in shares of 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. Institutional investors own 89.80% of the company’s stock.

Methode Electronics, Inc. (MEI) opened at 42.35 on Friday. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 17.22 and a beta of 0.76. Methode Electronics, Inc. has a 1-year low of $29.85 and a 1-year high of $46.40. The stock’s 50 day moving average is $38.80 and its 200 day moving average is $41.19.

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

The company also recently announced 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 is Thursday, October 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.85%. Methode Electronics’s dividend payout ratio is currently 14.63%.

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MEI has been the topic of several recent analyst reports. Robert W. Baird restated an “outperform” rating and set a $47.00 price objective (down from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. BidaskClub lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. B. Riley restated a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a research note on Friday, June 23rd. Zacks Investment Research lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, FBR & Co restated an “outperform” rating and set a $49.00 price objective on shares of Methode Electronics in a research note on Tuesday, July 18th. One 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 presently has an average rating of “Buy” and a consensus price target of $48.25.

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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