Capital Fund Management S.A. increased its position in shares of Methode Electronics Inc. (NYSE:MEI) by 106.5% during the second quarter, Holdings Channel reports. The institutional investor owned 27,900 shares of the company’s stock after buying an additional 14,390 shares during the period. Capital Fund Management S.A.’s holdings in Methode Electronics were worth $955,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in MEI. Eqis Capital Management Inc. bought a new stake in shares of Methode Electronics during the second quarter worth $202,000. Palouse Capital Management Inc. bought a new stake in shares of Methode Electronics during the second quarter worth $203,000. Nisa Investment Advisors L.L.C. bought a new stake in shares of Methode Electronics during the first quarter worth $348,000. Pacad Investment Ltd. bought a new stake in shares of Methode Electronics during the first quarter worth $402,000. Finally, Reinhart Partners Inc. bought a new stake in shares of Methode Electronics during the second quarter worth $403,000. 92.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of Methode Electronics Inc. (NYSE:MEI) traded down 1.51% on Friday, hitting $35.31. 118,212 shares of the stock traded hands. Methode Electronics Inc. has a 52-week low of $23.83 and a 52-week high of $37.25. The firm has a market cap of $1.30 billion, a PE ratio of 16.29 and a beta of 1.13. The firm has a 50 day moving average price of $35.43 and a 200 day moving average price of $32.16.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The company earned $191.90 million during the quarter, compared to the consensus estimate of $203.06 million. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. The firm’s revenue was down 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 EPS. On average, equities analysts forecast that Methode Electronics Inc. will post $2.30 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be paid a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.02%. Methode Electronics’s dividend payout ratio (DPR) is presently 16.67%.
A number of brokerages recently weighed in on MEI. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Robert W. Baird raised shares of Methode Electronics from a “neutral” rating to an “outperform” rating and raised their target price for the company from $35.00 to $45.00 in a research note on Friday, June 24th. B. Riley reaffirmed a “buy” rating and issued a $44.50 target price on shares of Methode Electronics in a research note on Tuesday, June 21st. FBR & Co reaffirmed an “outperform” rating and issued a $42.00 target price on shares of Methode Electronics in a research note on Friday, June 24th. Finally, Craig Hallum downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Friday, September 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of C$22.48.
In related news, VP Timothy Glandon sold 39,183 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The stock was sold at an average price of C$35.02, for a total transaction of C$1,372,188.66. Following the completion of the transaction, the vice president now directly owns 40,205 shares in the company, valued at approximately C$1,407,979.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul G. Shelton sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The shares were sold at an average price of C$36.99, for a total value of C$73,980.00. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
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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