Methode Electronics Inc. (MEI) Stake Held by Swiss National Bank
Swiss National Bank continued to hold its position in shares of Methode Electronics Inc. (NYSE:MEI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,200 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned 0.16% of Methode Electronics worth $2,061,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of MEI. Quantitative Investment Management LLC bought a new stake in Methode Electronics during the second quarter worth approximately $246,000. Quantbot Technologies LP raised its stake in Methode Electronics by 140.4% in the second quarter. Quantbot Technologies LP now owns 3,895 shares of the company’s stock worth $133,000 after buying an additional 2,275 shares during the period. Capital Fund Management S.A. raised its stake in Methode Electronics by 106.5% in the second quarter. Capital Fund Management S.A. now owns 27,900 shares of the company’s stock worth $955,000 after buying an additional 14,390 shares during the period. Palouse Capital Management Inc. bought a new stake in Methode Electronics during the second quarter worth approximately $203,000. Finally, American Century Companies Inc. raised its stake in Methode Electronics by 29.8% in the second quarter. American Century Companies Inc. now owns 22,356 shares of the company’s stock worth $765,000 after buying an additional 5,133 shares during the period. 92.51% of the stock is owned by institutional investors and hedge funds.
Shares of Methode Electronics Inc. (NYSE:MEI) traded down 0.46% during mid-day trading on Tuesday, hitting $34.29. The company had a trading volume of 132,016 shares. The firm has a 50-day moving average price of $35.66 and a 200-day moving average price of $31.51. The firm has a market capitalization of $1.27 billion, a PE ratio of 15.82 and a beta of 1.34. Methode Electronics Inc. has a 52 week low of $23.83 and a 52 week high of $37.25.
Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The business earned $191.90 million during the quarter, compared to analyst estimates of $203.06 million. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. Methode Electronics’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 EPS. Equities analysts forecast that Methode Electronics Inc. will post $2.30 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, October 12th. Methode Electronics’s payout ratio is 16.67%.
A number of equities research analysts have commented on MEI shares. Craig Hallum lowered Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price target on the stock. in a research report on Friday, September 2nd. Robert W. Baird reiterated an “outperform” rating and issued a $45.00 price target on shares of Methode Electronics in a research report on Wednesday, August 31st. Zacks Investment Research lowered Methode Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. FBR & Co restated an “outperform” rating and set a $42.00 target price on shares of Methode Electronics in a research report on Friday, June 24th. Finally, B. Riley restated a “buy” rating and set a $44.50 target price on shares of Methode Electronics in a research report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of C$22.48.
In other Methode Electronics news, Director Isabelle C. Goossen sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of C$35.75, for a total transaction of C$107,250.00. Following the transaction, the director now owns 41,000 shares in the company, valued at approximately C$1,465,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul G. Shelton sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of C$36.99, for a total value of C$73,980.00. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.
About Methode Electronics
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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