Rice Hall James & Associates LLC raised its position in Methode Electronics, Inc. (NYSE:MEI) by 0.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 400,746 shares of the electronics maker’s stock after buying an additional 1,665 shares during the period. Rice Hall James & Associates LLC’s holdings in Methode Electronics were worth $16,511,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MEI. O Shaughnessy Asset Management LLC increased its stake in shares of Methode Electronics by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock worth $130,000 after buying an additional 90 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Methode Electronics during the first quarter worth about $135,000. Meeder Asset Management Inc. acquired a new stake in shares of Methode Electronics during the second quarter worth about $122,000. Victory Capital Management Inc. increased its stake in shares of Methode Electronics by 9.4% in the first quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock worth $138,000 after buying an additional 260 shares during the period. Finally, State of Alaska Department of Revenue increased its stake in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock worth $185,000 after buying an additional 60 shares during the period. 89.42% of the stock is owned by institutional investors.

Shares of Methode Electronics, Inc. (NYSE:MEI) opened at 37.65 on Friday. Methode Electronics, Inc. has a 12-month low of $29.85 and a 12-month high of $46.40. The stock has a 50 day moving average price of $40.11 and a 200 day moving average price of $41.84. The stock has a market capitalization of $1.39 billion, a P/E ratio of 15.18 and a beta of 0.76.

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

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

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A number of brokerages have issued reports on MEI. BidaskClub downgraded Methode Electronics from a “sell” rating to a “strong sell” rating in a report on Saturday. B. Riley reaffirmed a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a report on Friday, June 23rd. FBR & Co reaffirmed an “outperform” rating and set a $49.00 price target on shares of Methode Electronics in a report on Tuesday, July 18th. Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 price target (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. Finally, Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $46.00.

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

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