Methode Electronics, Inc. (MEI) Holdings Lifted by Royce & Associates LP

Royce & Associates LP boosted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,230,099 shares of the electronics maker’s stock after acquiring an additional 17,443 shares during the period. Royce & Associates LP owned approximately 3.34% of Methode Electronics worth $52,095,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Alps Advisors Inc. raised its stake in shares of Methode Electronics by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock valued at $447,000 after purchasing an additional 28 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Methode Electronics by 1.0% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock valued at $199,000 after purchasing an additional 49 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Methode Electronics by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock valued at $1,345,000 after purchasing an additional 117 shares during the period. Amalgamated Bank raised its stake in shares of 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 purchasing an additional 134 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Methode Electronics by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 26,858 shares of the electronics maker’s stock valued at $1,107,000 after purchasing an additional 224 shares during the period. Hedge funds and other institutional investors own 89.95% of the company’s stock.

Several analysts have issued reports on MEI shares. Zacks Investment Research downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. BidaskClub raised Methode Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. B. Riley reaffirmed a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Tuesday. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $47.00 target price on shares of Methode Electronics in a research report on Sunday, September 24th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Methode Electronics presently has an average rating of “Buy” and an average target price of $49.50.

Methode Electronics, Inc. (NYSE MEI) remained flat at $$45.50 during trading hours on Thursday. 250,100 shares of the stock traded hands, compared to its average volume of 216,312. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.32 and a quick ratio of 3.81. The firm has a market cap of $1,674.85, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.17 and a beta of 0.76. Methode Electronics, Inc. has a one year low of $36.05 and a one year high of $48.44.

Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, December 6th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.01. The business had revenue of $230.10 million for the quarter, compared to the consensus estimate of $218.03 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. Methode Electronics’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.66 earnings per share. equities analysts anticipate that Methode Electronics, Inc. will post 2.59 EPS for the current fiscal year.

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Methode Electronics Company 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.

Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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