Methode Electronics Inc. (MEI) Shares Sold by Barclays PLC

Barclays PLC trimmed its position in Methode Electronics Inc. (NYSE:MEI) by 49.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,678 shares of the electronics maker’s stock after selling 24,085 shares during the period. Barclays PLC owned approximately 0.07% of Methode Electronics worth $965,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in shares of Methode Electronics by 1.6% during the 1st quarter. BlackRock Inc. now owns 4,645,219 shares of the electronics maker’s stock valued at $181,629,000 after acquiring an additional 74,887 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Methode Electronics by 0.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,055,779 shares of the electronics maker’s stock valued at $80,381,000 after acquiring an additional 16,560 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in shares of Methode Electronics by 5.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,436,624 shares of the electronics maker’s stock valued at $56,172,000 after acquiring an additional 72,349 shares during the last quarter. Silvercrest Asset Management Group LLC lifted its position in shares of Methode Electronics by 0.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 1,237,302 shares of the electronics maker’s stock valued at $48,378,000 after acquiring an additional 4,506 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in shares of Methode Electronics by 41.6% during the 1st quarter. Wedge Capital Management L L P NC now owns 637,419 shares of the electronics maker’s stock valued at $24,923,000 after acquiring an additional 187,245 shares during the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Shares of NYSE:MEI opened at $40.20 on Monday. Methode Electronics Inc. has a one year low of $36.75 and a one year high of $48.44. The firm has a market cap of $1.54 billion, a PE ratio of 13.40, a P/E/G ratio of 0.97 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.50 and a quick ratio of 3.47.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, June 21st. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.24. Methode Electronics had a net margin of 6.30% and a return on equity of 19.04%. The company had revenue of $249.00 million for the quarter, compared to the consensus estimate of $247.16 million. During the same period in the previous year, the business earned $0.62 EPS. The company’s revenue was up 13.3% on a year-over-year basis. equities research analysts expect that Methode Electronics Inc. will post 2.89 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 27th. Shareholders of record on Friday, July 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is currently 14.67%.

A number of equities research analysts have recently commented on MEI shares. TheStreet downgraded Methode Electronics from a “b” rating to a “c+” rating in a research report on Friday, March 2nd. Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Saturday, March 10th. Robert W. Baird reiterated an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of Methode Electronics in a research report on Friday, March 2nd. Finally, ValuEngine downgraded Methode Electronics from a “hold” rating to a “sell” rating in a research report on Friday, June 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Methode Electronics has a consensus rating of “Hold” and a consensus target price of $49.00.

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.

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

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