Royce & Associates LP boosted its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 15.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 652,913 shares of the electronics maker’s stock after buying an additional 89,419 shares during the period. Royce & Associates LP’s holdings in Methode Electronics were worth $24,994,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of MEI. Engineers Gate Manager LP increased its position in shares of Methode Electronics by 363.5% in the third quarter. Engineers Gate Manager LP now owns 39,076 shares of the electronics maker’s stock worth $1,114,000 after acquiring an additional 30,646 shares in the last quarter. Brinker Capital Investments LLC acquired a new stake in shares of Methode Electronics in the third quarter worth $222,000. Nisa Investment Advisors LLC grew its holdings in shares of Methode Electronics by 294.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,680 shares of the electronics maker’s stock valued at $103,000 after buying an additional 2,000 shares in the last quarter. California State Teachers Retirement System lifted its stake in Methode Electronics by 1.6% in the 3rd quarter. California State Teachers Retirement System now owns 55,551 shares of the electronics maker’s stock worth $1,583,000 after acquiring an additional 853 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in Methode Electronics by 16.2% during the 3rd quarter. Jennison Associates LLC now owns 58,720 shares of the electronics maker’s stock worth $1,674,000 after acquiring an additional 8,198 shares during the period. 88.77% of the stock is owned by institutional investors.
Separately, TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b-” rating in a research note on Thursday, November 5th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $31.75.
In other Methode Electronics news, CFO Ronald L.G. Tsoumas sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, December 31st. The stock was sold at an average price of $38.23, for a total transaction of $458,760.00. Following the completion of the sale, the chief financial officer now owns 201,552 shares of the company’s stock, valued at $7,705,332.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lawrence B. Skatoff sold 7,000 shares of the stock in a transaction that occurred on Monday, December 7th. The shares were sold at an average price of $37.34, for a total value of $261,380.00. Following the transaction, the director now owns 27,000 shares in the company, valued at approximately $1,008,180. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,706 shares of company stock worth $1,316,026. Corporate insiders own 3.20% of the company’s stock.
NYSE:MEI opened at $39.42 on Tuesday. The company has a market capitalization of $1.48 billion, a P/E ratio of 11.49 and a beta of 1.28. The stock’s 50 day moving average price is $39.97 and its 200 day moving average price is $34.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.83 and a current ratio of 3.43. Methode Electronics, Inc. has a 52 week low of $21.76 and a 52 week high of $43.11.
Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, December 2nd. The electronics maker reported $1.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.23. The company had revenue of $300.80 million during the quarter, compared to the consensus estimate of $276.58 million. Methode Electronics had a net margin of 13.22% and a return on equity of 16.19%. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 earnings per share. As a group, sell-side analysts forecast that Methode Electronics, Inc. will post 2.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 29th. Investors of record on Friday, January 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date was Thursday, January 14th. Methode Electronics’s dividend payout ratio is presently 14.10%.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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