Envestnet Asset Management Inc. raised its holdings in Methode Electronics (NYSE:MEI) by 15.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,353 shares of the electronics maker’s stock after buying an additional 1,362 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Methode Electronics were worth $415,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Advisor Group Inc. grew its holdings in Methode Electronics by 73.0% in the 4th quarter. Advisor Group Inc. now owns 3,965 shares of the electronics maker’s stock valued at $159,000 after buying an additional 1,673 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Methode Electronics in the 3rd quarter valued at about $201,000. Jump Trading LLC purchased a new stake in Methode Electronics in the 4th quarter valued at about $247,000. Verity Asset Management Inc. purchased a new stake in Methode Electronics in the 4th quarter valued at about $268,000. Finally, Bowling Portfolio Management LLC purchased a new stake in Methode Electronics in the 4th quarter valued at about $359,000. Institutional investors own 95.99% of the company’s stock.
Shares of NYSE:MEI opened at $39.70 on Tuesday. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.03 and a quick ratio of 3.47. Methode Electronics has a 1 year low of $36.05 and a 1 year high of $48.44. The stock has a market cap of $1,435.31, a PE ratio of 15.57, a PEG ratio of 0.93 and a beta of 0.88.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.66 by $0.21. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. The business had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $219.90 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 16.6% on a year-over-year basis. sell-side analysts forecast that Methode Electronics will post 2.8 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, April 12th. Methode Electronics’s payout ratio is currently 17.25%.
A number of analysts have recently issued reports on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. TheStreet cut Methode Electronics from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of Methode Electronics in a report on Friday, March 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price of $48.75.
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Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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