Federated Hermes Inc. Invests $1.60 Million in Methode Electronics, Inc. (NYSE:MEI)

Federated Hermes Inc. acquired a new stake in Methode Electronics, Inc. (NYSE:MEI) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 70,522 shares of the electronics maker’s stock, valued at approximately $1,603,000. Federated Hermes Inc. owned approximately 0.20% of Methode Electronics as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its holdings in shares of Methode Electronics by 503.2% during the 3rd quarter. CWM LLC now owns 1,689 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 1,409 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Methode Electronics during the third quarter valued at about $476,000. Verdence Capital Advisors LLC bought a new stake in shares of Methode Electronics during the third quarter worth about $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Methode Electronics by 31.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,956 shares of the electronics maker’s stock valued at $182,000 after acquiring an additional 1,899 shares during the period. Finally, Duality Advisers LP increased its position in Methode Electronics by 51.3% in the 3rd quarter. Duality Advisers LP now owns 22,017 shares of the electronics maker’s stock valued at $503,000 after acquiring an additional 7,463 shares during the period. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group began coverage on shares of Methode Electronics in a report on Tuesday, April 9th. They set a “hold” rating and a $12.00 price target on the stock. Sidoti reiterated a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research report on Thursday, March 7th.

Methode Electronics Price Performance

Shares of NYSE MEI opened at $12.61 on Tuesday. The company has a market capitalization of $446.27 million, a PE ratio of -7.69 and a beta of 0.86. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a twelve month low of $11.09 and a twelve month high of $46.58. The firm has a fifty day simple moving average of $14.48 and a 200 day simple moving average of $19.65.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.40). Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. The business had revenue of $259.50 million during the quarter, compared to the consensus estimate of $288.50 million. During the same period last year, the business posted $0.54 earnings per share. On average, sell-side analysts forecast that Methode Electronics, Inc. will post -0.41 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.56 annualized dividend and a dividend yield of 4.44%. Methode Electronics’s dividend payout ratio is currently -34.15%.

Methode Electronics Company Profile

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.