Sei Investments Co. Grows Position in Methode Electronics, Inc. $MEI

Sei Investments Co. lifted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 87.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 465,973 shares of the electronics maker’s stock after buying an additional 217,764 shares during the period. Sei Investments Co.’s holdings in Methode Electronics were worth $2,572,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MEI. EverSource Wealth Advisors LLC raised its position in Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after buying an additional 2,815 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Methode Electronics during the 2nd quarter valued at about $107,000. Mackenzie Financial Corp purchased a new stake in shares of Methode Electronics during the 3rd quarter valued at about $103,000. Inscription Capital LLC bought a new stake in shares of Methode Electronics in the fourth quarter worth approximately $112,000. Finally, State of Wyoming bought a new stake in shares of Methode Electronics in the first quarter worth approximately $93,000. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Trading Up 1.0%

Shares of NYSE:MEI opened at $16.66 on Friday. The stock’s 50-day simple moving average is $14.67 and its two-hundred day simple moving average is $10.33. The stock has a market capitalization of $590.93 million, a price-to-earnings ratio of -16.50 and a beta of 1.50. Methode Electronics, Inc. has a 52-week low of $4.88 and a 52-week high of $20.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.37.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. The business had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Analysts expect that Methode Electronics, Inc. will post -0.95 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics’s dividend payout ratio is currently -19.80%.

Analyst Ratings Changes

Several research analysts have recently weighed in on MEI shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Barrington Research upgraded shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a report on Monday, June 29th. Robert W. Baird lifted their target price on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday, June 26th. Wall Street Zen lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Finally, Zacks Research raised Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.33.

Methode Electronics Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.