Methode Electronics, Inc. (NYSE:MEI) Shares Bought 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 13F filing with the Securities and Exchange Commission (SEC). 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 about 3.34% of Methode Electronics worth $52,095,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MEI. Vanguard Group Inc. raised its position in shares of 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 purchasing an additional 22,852 shares during the last quarter. Renaissance Technologies LLC raised 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 last quarter. State Street Corp raised 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 last quarter. Northern Trust Corp raised 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 last quarter. Finally, Ameriprise Financial Inc. raised 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 last quarter. Institutional investors and hedge funds own 86.66% of the company’s stock.

In other news, Director Isabelle C. Goossen sold 2,500 shares of Methode Electronics stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total transaction of $101,250.00. Following the transaction, the director now owns 40,950 shares in the company, valued at approximately $1,658,475. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.40% of the stock is owned by insiders.

Methode Electronics, Inc. (MEI) traded down $0.35 during trading on Friday, reaching $40.10. 227,174 shares of the company were exchanged, compared to its average volume of 268,620. 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. The firm has a market cap of $1,530.00, a PE ratio of 16.43, a P/E/G ratio of 1.04 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, hitting the 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 analysts’ expectations of $218.03 million. During the same quarter in the previous year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. sell-side analysts predict that Methode Electronics, Inc. will post 2.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend 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 equities analysts have issued reports on MEI shares. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Methode Electronics in a research note on Sunday, September 24th. ValuEngine raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. 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 issued a hold rating and three have given a buy rating to the company. Methode Electronics presently has a consensus rating of “Hold” and an average 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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