Deutsche Bank AG Makes New Investment in Methode Electronics, Inc. $MEI

Deutsche Bank AG purchased a new position in Methode Electronics, Inc. (NYSE:MEI) in the 2nd quarter, HoldingsChannel.com reports. The firm purchased 262,646 shares of the electronics maker’s stock, valued at approximately $4,982,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AIGH Capital Management LLC bought a new stake in shares of Methode Electronics during the 2nd quarter worth $31,839,000. 4D Advisors LLC acquired a new stake in shares of Methode Electronics during the fourth quarter worth $3,320,000. UBS Group AG raised its position in shares of Methode Electronics by 887.1% during the third quarter. UBS Group AG now owns 476,974 shares of the electronics maker’s stock worth $3,601,000 after purchasing an additional 428,654 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Methode Electronics by 31.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,380,436 shares of the electronics maker’s stock valued at $9,166,000 after purchasing an additional 331,618 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Methode Electronics by 54.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 832,344 shares of the electronics maker’s stock valued at $6,284,000 after purchasing an additional 293,843 shares during the period. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Trading Up 14.2%

Shares of NYSE:MEI opened at $16.03 on Wednesday. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $568.51 million, a PE ratio of -15.87 and a beta of 1.50. Methode Electronics, Inc. has a 1 year low of $4.88 and a 1 year high of $20.38. The firm has a fifty day moving average price of $15.66 and a 200 day moving average price of $11.02.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%.The company had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. Analysts expect that Methode Electronics, Inc. will post -0.95 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics’s dividend payout ratio (DPR) is currently -19.80%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MEI shares. Craig Hallum initiated coverage on Methode Electronics in a research note on Tuesday. They issued a “buy” rating and a $30.00 price target on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Sidoti reissued a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a research report on Friday, June 26th. Robert W. Baird boosted their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Wall Street Zen downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Sunday, August 2nd. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $22.00.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.