Thomson Horstmann & Bryant Inc. boosted its position in shares of Methode Electronics Inc. (NYSE:MEI) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,809 shares of the electronics maker’s stock after purchasing an additional 1,679 shares during the quarter. Thomson Horstmann & Bryant Inc.’s holdings in Methode Electronics were worth $633,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC grew its holdings in Methode Electronics by 22.2% during the second quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 500 shares during the period. Riverhead Capital Management LLC lifted its stake in Methode Electronics by 87.3% in the second quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after buying an additional 1,396 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in Methode Electronics in the second quarter valued at approximately $132,000. Victory Capital Management Inc. lifted its stake in Methode Electronics by 17.7% in the second quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock valued at $147,000 after buying an additional 536 shares in the last quarter. Finally, Quantbot Technologies LP bought a new position in Methode Electronics in the second quarter valued at approximately $156,000. Hedge funds and other institutional investors own 86.66% of the company’s stock.
Methode Electronics Inc. (MEI) opened at $41.30 on Friday. The company has a quick ratio of 3.22, a current ratio of 3.74 and a debt-to-equity ratio of 0.17. Methode Electronics Inc. has a one year low of $36.05 and a one year high of $48.44. The firm has a market cap of $1,580.00, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.06 and a beta of 0.78.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. The firm had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. equities research analysts expect that Methode Electronics Inc. will post 2.58 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.07%. The ex-dividend date is Thursday, January 11th. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09. Methode Electronics’s payout ratio is currently 14.75%.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Methode Electronics from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a research note on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 price target on shares of Methode Electronics in a research note on Tuesday, October 17th. ValuEngine lowered shares of 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 on shares of Methode Electronics in a research note on Wednesday, November 1st. One equities research 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. Methode Electronics currently has an average rating of “Hold” and an average target price of $49.50.
In other news, Director Isabelle C. Goossen sold 2,500 shares of the business’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 owns 40,950 shares of the company’s stock, valued at $1,658,475. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of the business’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $40.30, for a total transaction of $862,420.00. Following the completion of the sale, the vice president now directly owns 267,200 shares in the company, valued at approximately $10,768,160. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.
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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