Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Methode Electronics, Inc. (NYSE:MEI) by 19.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,442 shares of the electronics maker’s stock after selling 1,514 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Methode Electronics were worth $146,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MEI. Nisa Investment Advisors LLC grew its holdings in shares of Methode Electronics by 295.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker’s stock worth $62,000 after purchasing an additional 2,025 shares during the period. International Assets Investment Management LLC boosted its stake in Methode Electronics by 2,182.5% during the fourth quarter. International Assets Investment Management LLC now owns 5,866 shares of the electronics maker’s stock worth $133,000 after buying an additional 5,609 shares during the period. Verdence Capital Advisors LLC acquired a new stake in shares of Methode Electronics during the third quarter valued at about $208,000. PNC Financial Services Group Inc. raised its stake in shares of Methode Electronics by 30.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,809 shares of the electronics maker’s stock valued at $224,000 after acquiring an additional 2,283 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Methode Electronics in the 3rd quarter worth approximately $229,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MEI. Sidoti reissued a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a research report on Thursday, March 7th. Jefferies Financial Group initiated coverage on Methode Electronics in a report on Tuesday, April 9th. They issued a “hold” rating and a $12.00 price objective on the stock.

Methode Electronics Price Performance

Shares of MEI opened at $11.42 on Thursday. 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 fifty-two week low of $11.09 and a fifty-two week high of $46.58. The company has a market cap of $404.15 million, a P/E ratio of -6.96 and a beta of 0.84. The firm’s 50 day moving average price is $13.15 and its 200 day moving average price is $19.07.

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 analysts’ consensus estimates 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 company had revenue of $259.50 million for the quarter, compared to analysts’ expectations of $288.50 million. During the same period in the prior year, the company posted $0.54 EPS. On average, research analysts forecast that Methode Electronics, Inc. will post -0.41 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend was Thursday, April 11th. Methode Electronics’s dividend payout ratio is presently -34.15%.

About Methode Electronics

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.