Chartwell Investment Partners LLC grew its position in shares of Methode Electronics Inc. (NYSE:MEI) by 0.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 75,078 shares of the electronics maker’s stock after purchasing an additional 615 shares during the quarter. Chartwell Investment Partners LLC owned approximately 0.20% of Methode Electronics worth $2,161,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the company. Blueshift Asset Management LLC bought a new position in Methode Electronics during the 4th quarter worth approximately $402,000. Squarepoint Ops LLC bought a new position in Methode Electronics during the 4th quarter worth approximately $1,044,000. Macquarie Group Ltd. grew its position in Methode Electronics by 16.4% during the 3rd quarter. Macquarie Group Ltd. now owns 99,400 shares of the electronics maker’s stock worth $3,598,000 after acquiring an additional 14,000 shares during the last quarter. MetLife Investment Advisors LLC grew its position in Methode Electronics by 60.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 24,602 shares of the electronics maker’s stock worth $891,000 after acquiring an additional 9,251 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in Methode Electronics during the 4th quarter worth approximately $316,000. Hedge funds and other institutional investors own 97.34% of the company’s stock.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a research report on Thursday, March 7th. Craig Hallum upgraded Methode Electronics from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $42.00 in a research report on Friday, March 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.25.
Shares of MEI stock opened at $29.54 on Tuesday. The company has a market capitalization of $1.10 billion, a PE ratio of 9.85 and a beta of 1.45. Methode Electronics Inc. has a fifty-two week low of $20.99 and a fifty-two week high of $45.45. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.53.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, March 7th. The electronics maker reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.23. The firm had revenue of $246.90 million for the quarter, compared to analyst estimates of $259.29 million. Methode Electronics had a return on equity of 18.64% and a net margin of 10.76%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 EPS. Research analysts forecast that Methode Electronics Inc. will post 2.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be given a $0.11 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.49%. Methode Electronics’s dividend payout ratio is currently 14.67%.
About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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