New Century Advisors LLC Grows Position in Methode Electronics, Inc. (NYSE:MEI)

New Century Advisors LLC lifted its position in shares of Methode Electronics, Inc. (NYSE:MEIGet Rating) by 56.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 837 shares of the electronics maker’s stock after buying an additional 302 shares during the period. New Century Advisors LLC’s holdings in Methode Electronics were worth $31,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its position in Methode Electronics by 14.9% in the 4th quarter. Allianz Asset Management GmbH now owns 31,534 shares of the electronics maker’s stock worth $1,551,000 after buying an additional 4,082 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Methode Electronics by 6.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,864 shares of the electronics maker’s stock worth $340,000 after buying an additional 511 shares during the last quarter. William Blair Investment Management LLC lifted its position in Methode Electronics by 0.4% in the 1st quarter. William Blair Investment Management LLC now owns 1,065,668 shares of the electronics maker’s stock worth $46,090,000 after buying an additional 4,565 shares during the last quarter. Westwood Holdings Group Inc. bought a new stake in Methode Electronics in the 4th quarter worth approximately $31,809,000. Finally, Mercer Global Advisors Inc. ADV lifted its position in Methode Electronics by 6.2% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 5,743 shares of the electronics maker’s stock worth $248,000 after buying an additional 335 shares during the last quarter. Institutional investors own 94.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MEI shares. StockNews.com upgraded Methode Electronics from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird decreased their price target on Methode Electronics from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 15th.

Insider Activity

In other news, COO Joseph Elias Khoury sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $38.55, for a total transaction of $308,400.00. Following the transaction, the chief operating officer now directly owns 396,420 shares of the company’s stock, valued at $15,281,991. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.50% of the company’s stock.

Methode Electronics Trading Down 4.3 %

Methode Electronics stock traded down $1.59 during trading hours on Friday, reaching $35.76. The company had a trading volume of 7,894 shares, compared to its average volume of 135,646. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.26 and a quick ratio of 2.38. The company has a 50-day moving average price of $40.02 and a 200 day moving average price of $41.46. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 14.43 and a beta of 1.14. Methode Electronics, Inc. has a 12-month low of $33.91 and a 12-month high of $49.94.

Methode Electronics (NYSE:MEIGet Rating) last posted its earnings results on Thursday, June 23rd. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.43. Methode Electronics had a return on equity of 10.39% and a net margin of 8.17%. The firm had revenue of $288.70 million for the quarter, compared to analysts’ expectations of $289.10 million. Equities analysts forecast that Methode Electronics, Inc. will post 2.9 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.14 per share. The ex-dividend date is Thursday, October 13th. This represents a $0.56 annualized dividend and a dividend yield of 1.57%. Methode Electronics’s dividend payout ratio (DPR) is presently 22.31%.

About Methode Electronics

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Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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

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