Deutsche Bank AG raised its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 157.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,681 shares of the electronics maker’s stock after purchasing an additional 19,361 shares during the quarter. Deutsche Bank AG owned approximately 0.09% of Methode Electronics worth $837,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in Methode Electronics during the 4th quarter valued at $25,000. Americana Partners LLC purchased a new stake in shares of Methode Electronics in the 4th quarter worth about $27,000. Cognios Capital LLC purchased a new stake in shares of Methode Electronics in the 1st quarter worth about $28,000. Aigen Investment Management LP grew its position in shares of Methode Electronics by 21,300.0% in the 1st quarter. Aigen Investment Management LP now owns 1,712 shares of the electronics maker’s stock worth $45,000 after buying an additional 1,704 shares during the period. Finally, NumerixS Investment Technologies Inc purchased a new stake in shares of Methode Electronics in the 4th quarter worth about $71,000. 93.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of MEI stock opened at $31.28 on Wednesday. Methode Electronics Inc. has a one year low of $21.76 and a one year high of $41.70. The company’s 50-day moving average is $31.40 and its 200 day moving average is $32.26. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.19 and a beta of 1.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.06 and a current ratio of 2.84.
Methode Electronics (NYSE:MEI) last posted its earnings results on Tuesday, June 30th. The electronics maker reported $0.79 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.03. The business had revenue of $210.60 million for the quarter, compared to analysts’ expectations of $209.05 million. Methode Electronics had a net margin of 10.74% and a return on equity of 15.86%. The business’s revenue for the quarter was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 EPS. As a group, research analysts predict that Methode Electronics Inc. will post 3.22 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, July 16th. Methode Electronics’s dividend payout ratio is currently 14.86%.
A number of research firms have recently weighed in on MEI. Craig Hallum upped their target price on shares of Methode Electronics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Zacks Investment Research raised shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 24th. B. Riley downgraded shares of Methode Electronics from a “buy” rating to a “neutral” rating and cut their price objective for the company from $42.00 to $24.00 in a research report on Thursday, March 19th. TheStreet raised shares of Methode Electronics from a “c” rating to a “b-” rating in a research report on Tuesday, May 26th. Finally, Robert W. Baird cut their price objective on shares of Methode Electronics from $43.00 to $39.00 and set an “outperform” rating on the stock in a research report on Thursday, March 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $33.00.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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