New Amsterdam Partners LLC NY bought a new position in Methode Electronics, Inc. (NYSE:MEI) during the second quarter, Holdings Channel reports. The firm bought 122,948 shares of the electronics maker’s stock, valued at approximately $5,065,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legato Capital Management LLC raised its position in Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock worth $1,490,000 after buying an additional 66,454 shares during the period. Strs Ohio raised its position in Methode Electronics by 83.3% in the first quarter. Strs Ohio now owns 23,100 shares of the electronics maker’s stock worth $1,053,000 after buying an additional 10,500 shares during the period. Dubuque Bank & Trust Co. acquired a new position in Methode Electronics during the first quarter worth $202,000. Envestnet Asset Management Inc. raised its position in Methode Electronics by 8.3% in the first quarter. Envestnet Asset Management Inc. now owns 10,520 shares of the electronics maker’s stock worth $478,000 after buying an additional 803 shares during the period. Finally, Sawgrass Asset Management LLC acquired a new position in Methode Electronics during the first quarter worth $346,000. 89.42% of the stock is currently owned by institutional investors and hedge funds.

Shares of Methode Electronics, Inc. (NYSE MEI) opened at 37.65 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of 15.18 and a beta of 0.76. The stock’s 50 day moving average is $40.11 and its 200-day moving average is $41.84. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The company had revenue of $219.70 million for the quarter, compared to the consensus estimate of $214.39 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. Analysts anticipate that Methode Electronics, Inc. will post $2.46 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend was Wednesday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.52%.

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MEI has been the topic of a number of research reports. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Robert W. Baird reissued an “outperform” rating and issued a $47.00 target price (down from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. FBR & Co reissued an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a research note on Tuesday, July 18th. Finally, B. Riley reissued a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research note on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $46.00.

Methode Electronics Company Profile

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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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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