California Public Employees Retirement System boosted its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 2.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,003 shares of the electronics maker’s stock after acquiring an additional 1,810 shares during the period. California Public Employees Retirement System owned 0.22% of Methode Electronics worth $3,409,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in Methode Electronics by 30.3% during the 3rd quarter. Victory Capital Management Inc. now owns 4,646 shares of the electronics maker’s stock worth $197,000 after acquiring an additional 1,081 shares during the period. Cubist Systematic Strategies LLC bought a new position in Methode Electronics during the 3rd quarter worth $201,000. Crossmark Global Holdings Inc. bought a new position in Methode Electronics during the 3rd quarter worth $287,000. Bowling Portfolio Management LLC bought a new position in Methode Electronics during the 4th quarter worth $359,000. Finally, Teacher Retirement System of Texas bought a new position in Methode Electronics during the 4th quarter worth $483,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.
Shares of Methode Electronics Inc. (NYSE:MEI) opened at $41.50 on Friday. The firm has a market capitalization of $1,510.85, a price-to-earnings ratio of 35.78, a price-to-earnings-growth ratio of 0.98 and a beta of 0.84. Methode Electronics Inc. has a twelve month low of $36.05 and a twelve month high of $48.44. The company has a quick ratio of 3.47, a current ratio of 4.03 and a debt-to-equity ratio of 0.19.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.21. The firm had revenue of $228.00 million for the quarter, compared to the consensus estimate of $219.90 million. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 EPS. equities research analysts expect that Methode Electronics Inc. will post 2.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, April 12th. Methode Electronics’s dividend payout ratio is presently 37.93%.
In other Methode Electronics news, VP Joseph Elias Khoury sold 21,400 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the sale, the vice president now owns 267,200 shares of the company’s stock, valued at approximately $10,768,160. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the sale, 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. Company insiders own 4.40% of the company’s stock.
A number of equities analysts have commented on the company. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. TheStreet lowered Methode Electronics from a “b” rating to a “c+” rating in a research note on Friday, March 2nd. Robert W. Baird restated an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of Methode Electronics in a research note on Friday, March 2nd. ValuEngine lowered Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, B. Riley reaffirmed a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Tuesday, December 5th. One investment 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’s stock. The company presently has an average rating of “Hold” and a consensus price target of $48.75.
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Methode Electronics Profile
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.
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