First National Bank of Omaha cut its holdings in shares of Methode Electronics Inc. (NYSE:MEI) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,955 shares of the electronics maker’s stock after selling 2,200 shares during the quarter. First National Bank of Omaha owned approximately 0.08% of Methode Electronics worth $974,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of MEI. Meeder Asset Management Inc. purchased a new stake in Methode Electronics during the 2nd quarter worth approximately $38,000. Quantamental Technologies LLC purchased a new stake in Methode Electronics during the 2nd quarter worth approximately $42,000. Atria Investments LLC purchased a new stake in Methode Electronics during the 2nd quarter worth approximately $54,000. Ladenburg Thalmann Financial Services Inc. increased its holdings in Methode Electronics by 111.2% during the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,077 shares of the electronics maker’s stock worth $88,000 after purchasing an additional 1,620 shares during the last quarter. Finally, Flinton Capital Management LLC increased its holdings in Methode Electronics by 13.9% during the 2nd quarter. Flinton Capital Management LLC now owns 3,680 shares of the electronics maker’s stock worth $105,000 after purchasing an additional 448 shares during the last quarter. Institutional investors own 92.37% of the company’s stock.
In other news, Director Bruce K. Crowther bought 900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $31.58 per share, for a total transaction of $28,422.00. Following the transaction, the director now owns 3,900 shares in the company, valued at $123,162. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 4.40% of the stock is currently owned by company insiders.
Several research analysts have recently commented on the company. ValuEngine lowered Methode Electronics from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 10th. B. Riley set a $42.00 target price on Methode Electronics and gave the stock a “buy” rating in a research report on Friday, August 30th. TheStreet upgraded Methode Electronics from a “c+” rating to a “b” rating in a research report on Wednesday, September 11th. Finally, Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. Methode Electronics has a consensus rating of “Hold” and an average target price of $40.25.
Shares of MEI opened at $37.03 on Friday. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 12.51 and a beta of 1.47. The stock has a 50 day moving average of $33.93 and a 200-day moving average of $29.97. The company has a current ratio of 2.55, a quick ratio of 1.88 and a debt-to-equity ratio of 0.40. Methode Electronics Inc. has a 52 week low of $20.99 and a 52 week high of $37.42.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, August 29th. The electronics maker reported $0.75 EPS for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $270.20 million during the quarter, compared to analyst estimates of $268.15 million. Methode Electronics had a return on equity of 16.39% and a net margin of 9.19%. The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. On average, sell-side analysts predict that Methode Electronics Inc. will post 3.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.44 annualized dividend and a dividend yield of 1.19%. Methode Electronics’s payout ratio is 14.86%.
Methode Electronics 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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