Royce & Associates LP Grows Position in Methode Electronics, Inc. (NYSE:MEI)

Royce & Associates LP lifted its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,230,099 shares of the electronics maker’s stock after buying an additional 17,443 shares during the quarter. Royce & Associates LP owned about 3.34% of Methode Electronics worth $52,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Methode Electronics by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock valued at $131,612,000 after buying an additional 22,852 shares during the period. Renaissance Technologies LLC boosted its position in Methode Electronics by 4.1% during the 2nd quarter. Renaissance Technologies LLC now owns 1,047,880 shares of the electronics maker’s stock worth $43,173,000 after buying an additional 41,580 shares during the period. State Street Corp boosted its position in Methode Electronics by 1.1% during the 2nd quarter. State Street Corp now owns 916,563 shares of the electronics maker’s stock worth $37,763,000 after buying an additional 9,803 shares during the period. Northern Trust Corp boosted its position in Methode Electronics by 11.8% during the 2nd quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock worth $22,004,000 after buying an additional 56,575 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Methode Electronics by 0.6% during the 3rd quarter. Ameriprise Financial Inc. now owns 445,907 shares of the electronics maker’s stock worth $18,884,000 after buying an additional 2,514 shares during the period. Institutional investors own 89.95% of the company’s stock.

Shares of Methode Electronics, Inc. (NYSE:MEI) traded up $1.30 during midday trading on Friday, hitting $40.45. 519,602 shares of the stock were exchanged, compared to its average volume of 257,761. The firm has a market cap of $1,494.94, a P/E ratio of 15.29, a P/E/G ratio of 1.01 and a beta of 0.76. Methode Electronics, Inc. has a 1 year low of $36.05 and a 1 year high of $48.44. 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 (NYSE:MEI) last released its earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $230.10 million for the quarter, compared to the consensus estimate of $218.03 million. During the same quarter in the previous year, the company earned $0.66 EPS. Methode Electronics’s quarterly revenue was up 9.9% compared to the same quarter last year. sell-side analysts expect that Methode Electronics, Inc. will post 2.6 earnings per share for the current year.

Several research firms recently commented on MEI. B. Riley reiterated a “buy” rating on shares of Methode Electronics in a research report on Wednesday, November 1st. Robert W. Baird reiterated a “buy” rating and set a $46.00 target price on shares of Methode Electronics in a research report on Tuesday, October 17th. ValuEngine upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Finally, FBR & Co restated a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Methode Electronics has an average rating of “Buy” and a consensus target price of $49.50.

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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.

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

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