Westwood Holdings Group Inc. boosted its position in shares of Methode Electronics Inc. (NYSE:MEI) by 227.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,364,275 shares of the electronics maker’s stock after purchasing an additional 947,502 shares during the period. Westwood Holdings Group Inc. owned about 3.57% of Methode Electronics worth $54,707,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new position in Methode Electronics during the 3rd quarter worth about $287,000. Royce & Associates LP increased its holdings in Methode Electronics by 1.4% during the 3rd quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock worth $52,095,000 after purchasing an additional 17,443 shares in the last quarter. First National Bank of Omaha increased its holdings in Methode Electronics by 6.2% during the 4th quarter. First National Bank of Omaha now owns 75,065 shares of the electronics maker’s stock worth $2,804,000 after purchasing an additional 4,360 shares in the last quarter. Bessemer Group Inc. bought a new position in shares of Methode Electronics in the 4th quarter valued at about $1,343,000. Finally, California Public Employees Retirement System grew its holdings in shares of Methode Electronics by 6.2% in the 3rd quarter. California Public Employees Retirement System now owns 83,193 shares of the electronics maker’s stock valued at $3,523,000 after acquiring an additional 4,893 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
In related news, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the sale, the director now directly owns 40,950 shares in the company, valued at approximately $1,658,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were 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 owns 267,200 shares of the company’s stock, valued at $10,768,160. The disclosure for this sale can be found here. Company insiders own 4.40% of the company’s stock.
Methode Electronics Inc. (MEI) opened at $41.50 on Friday. The firm has a market capitalization of $1,510.85, a PE ratio of 35.78, a PEG ratio of 0.98 and a beta of 0.84. The company has a quick ratio of 3.47, a current ratio of 4.03 and a debt-to-equity ratio of 0.19. Methode Electronics Inc. has a 1-year low of $36.05 and a 1-year high of $48.44.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, March 1st. The electronics maker reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.21. The company had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $219.90 million. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. Methode Electronics’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. sell-side analysts expect that Methode Electronics Inc. will post 2.8 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be paid a $0.11 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.44 annualized dividend and a yield of 1.06%. Methode Electronics’s dividend payout ratio (DPR) is currently 37.93%.
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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.
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