LSV Asset Management raised its position in shares of Methode Electronics Inc. (NYSE:MEI) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 175,200 shares of the electronics maker’s stock after acquiring an additional 17,100 shares during the quarter. LSV Asset Management owned about 0.46% of Methode Electronics worth $7,025,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in Methode Electronics by 2.8% in the 2nd quarter. Amalgamated Bank now owns 4,975 shares of the electronics maker’s stock valued at $205,000 after buying an additional 134 shares in the last quarter. California Public Employees Retirement System grew its stake in Methode Electronics by 1.0% in the 2nd quarter. California Public Employees Retirement System now owns 78,300 shares of the electronics maker’s stock valued at $3,226,000 after buying an additional 800 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Methode Electronics by 30.3% in the 3rd quarter. Victory Capital Management Inc. now owns 4,646 shares of the electronics maker’s stock valued at $197,000 after purchasing an additional 1,081 shares during the period. Voya Investment Management LLC boosted its holdings in Methode Electronics by 4.0% in the 2nd quarter. Voya Investment Management LLC now owns 36,466 shares of the electronics maker’s stock valued at $1,502,000 after purchasing an additional 1,391 shares during the period. Finally, American International Group Inc. boosted its holdings in Methode Electronics by 5.7% in the 3rd quarter. American International Group Inc. now owns 28,478 shares of the electronics maker’s stock valued at $1,206,000 after purchasing an additional 1,538 shares during the period. 86.68% of the stock is currently owned by institutional investors.
Methode Electronics Inc. (NYSE:MEI) opened at $40.60 on Monday. Methode Electronics Inc. has a 52-week low of $36.05 and a 52-week high of $48.44. The firm has a market cap of $1,550.31, a P/E ratio of 16.64, a P/E/G ratio of 1.05 and a beta of 0.82. The company has a current ratio of 3.74, a quick ratio of 3.22 and a debt-to-equity ratio of 0.17.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.64. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. The firm had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $218.03 million. During the same period in the prior year, the company posted $0.66 earnings per share. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. equities analysts expect that Methode Electronics Inc. will post 2.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $0.44 annualized dividend and a yield of 1.08%. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09. Methode Electronics’s dividend payout ratio (DPR) is 18.03%.
In other news, VP Joseph Elias Khoury sold 21,400 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were 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 owns 267,200 shares in the company, valued at approximately $10,768,160. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total transaction of $101,250.00. Following the completion of the transaction, the director now directly owns 40,950 shares in the company, valued at approximately $1,658,475. The disclosure for this sale can be found here. 4.40% of the stock is owned by company insiders.
A number of equities analysts have issued reports on MEI shares. B. Riley restated a “buy” rating on shares of Methode Electronics in a research report on Wednesday, November 1st. ValuEngine cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $49.50.
About Methode Electronics
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.
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.