Goldman Sachs Group Inc. cut its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 18.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 139,251 shares of the electronics maker’s stock after selling 30,474 shares during the period. Goldman Sachs Group Inc. owned about 0.36% of Methode Electronics worth $5,584,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ariel Investments LLC bought a new stake in Methode Electronics during the fourth quarter valued at about $14,580,000. Heartland Advisors Inc. raised its holdings in Methode Electronics by 205.2% during the fourth quarter. Heartland Advisors Inc. now owns 352,735 shares of the electronics maker’s stock valued at $14,145,000 after acquiring an additional 237,170 shares during the period. BlackRock Inc. raised its holdings in Methode Electronics by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,570,332 shares of the electronics maker’s stock valued at $183,270,000 after acquiring an additional 129,746 shares during the period. Martingale Asset Management L P raised its holdings in Methode Electronics by 593.7% during the fourth quarter. Martingale Asset Management L P now owns 88,234 shares of the electronics maker’s stock valued at $3,539,000 after acquiring an additional 75,514 shares during the period. Finally, Smith Asset Management Group LP raised its holdings in Methode Electronics by 199.2% during the fourth quarter. Smith Asset Management Group LP now owns 84,441 shares of the electronics maker’s stock valued at $3,386,000 after acquiring an additional 56,220 shares during the period. Institutional investors own 96.04% of the company’s stock.
Shares of MEI stock opened at $38.45 on Friday. Methode Electronics Inc. has a 12-month low of $36.05 and a 12-month high of $48.44. The company has a current ratio of 4.03, a quick ratio of 3.47 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $1,435.31, a PE ratio of 15.08, a PEG ratio of 0.93 and a beta of 0.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 13th will be issued a $0.11 dividend. The ex-dividend date of this dividend is Thursday, April 12th. This represents a $0.44 annualized dividend and a dividend yield of 1.14%. Methode Electronics’s dividend payout ratio (DPR) is 17.25%.
A number of equities research analysts have commented on the company. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, March 13th. TheStreet cut Methode Electronics from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Finally, Robert W. Baird reissued an “outperform” rating and set a $51.00 price target (up from $48.00) on shares of Methode Electronics in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $48.75.
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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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