Dean Capital Management bought a new stake in shares of Methode Electronics, Inc. (NYSE:MEI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 76,315 shares of the electronics maker’s stock, valued at approximately $3,145,000. Dean Capital Management owned about 0.21% of Methode Electronics at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in MEI. First Trust Advisors LP increased its position in shares of Methode Electronics by 0.3% during the 1st quarter. First Trust Advisors LP now owns 45,077 shares of the electronics maker’s stock valued at $2,056,000 after purchasing an additional 134 shares during the last quarter. Swiss National Bank increased its position in shares of Methode Electronics by 2.3% during the 1st quarter. Swiss National Bank now owns 57,700 shares of the electronics maker’s stock valued at $2,631,000 after purchasing an additional 1,300 shares during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Methode Electronics during the 1st quarter valued at $514,000. Parametric Portfolio Associates LLC increased its position in shares of Methode Electronics by 14.0% during the 1st quarter. Parametric Portfolio Associates LLC now owns 99,036 shares of the electronics maker’s stock valued at $4,516,000 after purchasing an additional 12,170 shares during the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of Methode Electronics during the 1st quarter valued at $388,000. 89.82% of the stock is owned by hedge funds and other institutional investors.
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Several brokerages have recently issued reports on MEI. ValuEngine raised Methode Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Methode Electronics in a research report on Sunday, September 24th. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. FBR & Co reissued a “buy” rating on shares of Methode Electronics in a report on Thursday, August 31st. Finally, BidaskClub raised Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.33.
Shares of Methode Electronics, Inc. (NYSE:MEI) traded up 0.09% during midday trading on Thursday, reaching $44.50. The company had a trading volume of 54,271 shares. Methode Electronics, Inc. has a 1-year low of $29.85 and a 1-year high of $46.40. The stock has a market capitalization of $1.64 billion, a PE ratio of 18.09 and a beta of 0.76. The company’s 50-day moving average is $40.71 and its 200-day moving average is $41.06.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.12. The company had revenue of $201.20 million during the quarter, compared to analysts’ expectations of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. Methode Electronics’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share. On average, equities research analysts forecast that Methode Electronics, Inc. will post $2.54 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 13th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Thursday, October 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 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.
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