Methode Electronics Inc. (NYSE:MEI) Shares Bought by California Public Employees Retirement System

California Public Employees Retirement System boosted its position in Methode Electronics Inc. (NYSE:MEI) by 6.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 83,193 shares of the electronics maker’s stock after buying an additional 4,893 shares during the quarter. California Public Employees Retirement System owned approximately 0.23% of Methode Electronics worth $3,523,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the stock. Wedge Capital Management L L P NC bought a new stake in Methode Electronics in the 3rd quarter valued at $18,433,000. Formula Growth Ltd. boosted its stake in Methode Electronics by 87.1% in the 3rd quarter. Formula Growth Ltd. now owns 280,700 shares of the electronics maker’s stock valued at $11,888,000 after purchasing an additional 130,700 shares during the period. Heartland Advisors Inc. bought a new stake in shares of Methode Electronics during the 3rd quarter valued at $4,894,000. Ameriprise Financial Inc. lifted its position in shares of Methode Electronics by 33.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 443,393 shares of the electronics maker’s stock valued at $18,268,000 after acquiring an additional 111,170 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Methode Electronics by 91.4% during the 3rd quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock valued at $8,924,000 after acquiring an additional 100,640 shares during the period. 86.66% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently weighed in on MEI shares. Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “strong-buy” rating and set a $54.00 target price for the company in a research report on Tuesday, November 7th. ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. B. Riley reaffirmed a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Tuesday, December 5th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $47.00 target price on shares of Methode Electronics in a report on Sunday, September 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $49.50.

In other Methode Electronics news, VP Joseph Elias Khoury sold 21,400 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the completion of the sale, the vice president now directly owns 267,200 shares of the company’s stock, valued at $10,768,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the transaction, the director now directly owns 40,950 shares of the company’s stock, valued at $1,658,475. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.

Shares of Methode Electronics Inc. (NYSE MEI) opened at $42.55 on Friday. The company has a market capitalization of $1,615.23, a PE ratio of 17.44, a P/E/G ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.22 and a current ratio of 3.74. Methode Electronics Inc. has a 52-week low of $36.05 and a 52-week high of $48.44.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The business had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. During the same quarter in the prior year, the company earned $0.66 earnings per share. The company’s quarterly revenue was up 9.9% on a year-over-year basis. research analysts forecast that Methode Electronics Inc. will post 2.58 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.03%. This is an increase from Methode Electronics’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, January 11th. Methode Electronics’s dividend payout ratio (DPR) is presently 18.03%.

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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.

Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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