Brandywine Global Investment Management LLC Sells 5,151 Shares of Methode Electronics, Inc. (NYSE:MEI)

Brandywine Global Investment Management LLC reduced its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 148,567 shares of the electronics maker’s stock after selling 5,151 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.39% of Methode Electronics worth $7,311,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC lifted its holdings in Methode Electronics by 3.1% during the 2nd quarter. Blueshift Asset Management LLC now owns 10,757 shares of the electronics maker’s stock valued at $529,000 after purchasing an additional 321 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings in Methode Electronics by 6.4% during the 2nd quarter. Mutual of America Capital Management LLC now owns 5,465 shares of the electronics maker’s stock valued at $269,000 after purchasing an additional 330 shares during the last quarter. Brinker Capital Investments LLC lifted its holdings in Methode Electronics by 3.7% during the 2nd quarter. Brinker Capital Investments LLC now owns 10,266 shares of the electronics maker’s stock valued at $505,000 after purchasing an additional 362 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Methode Electronics by 8.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,167 shares of the electronics maker’s stock valued at $254,000 after purchasing an additional 385 shares during the last quarter. Finally, Shell Asset Management Co. lifted its holdings in Methode Electronics by 5.7% during the 2nd quarter. Shell Asset Management Co. now owns 8,671 shares of the electronics maker’s stock valued at $427,000 after purchasing an additional 470 shares during the last quarter. 93.78% of the stock is owned by institutional investors.

Shares of NYSE MEI opened at $42.10 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.54 and a current ratio of 3.24. Methode Electronics, Inc. has a 52 week low of $29.23 and a 52 week high of $50.19. The stock has a market capitalization of $1.61 billion, a P/E ratio of 12.35 and a beta of 1.28. The stock’s fifty day moving average is $44.66 and its 200 day moving average is $45.90.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Wednesday, September 1st. The electronics maker reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.02. Methode Electronics had a return on equity of 15.22% and a net margin of 11.03%. The company had revenue of $287.80 million for the quarter. Equities research analysts forecast that Methode Electronics, Inc. will post 3.55 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Friday, October 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, October 14th. Methode Electronics’s dividend payout ratio is presently 16.72%.

Separately, Robert W. Baird set a $47.97 price target on Methode Electronics and gave the stock a “hold” rating in a research report on Wednesday, July 14th.

In other news, Director Lawrence B. Skatoff sold 1,955 shares of Methode Electronics stock in a transaction dated Friday, October 1st. The stock was sold at an average price of $42.66, for a total transaction of $83,400.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald W. Duda sold 8,874 shares of Methode Electronics stock in a transaction dated Friday, July 16th. The shares were sold at an average price of $45.95, for a total value of $407,760.30. Following the sale, the chief executive officer now directly owns 1,210,509 shares in the company, valued at $55,622,888.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,829 shares of company stock worth $662,361. Company insiders own 4.30% of the company’s stock.

Methode Electronics Profile

Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.

Featured Article: What is the Quick Ratio?

Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.