State of Tennessee Treasury Department continued to hold its stake in Methode Electronics, Inc. (NYSE:MEI) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 34,719 shares of the electronics maker’s stock at the close of the second quarter. State of Tennessee Treasury Department owned 0.09% of Methode Electronics worth $1,430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Chicago Equity Partners LLC lifted its position in shares of Methode Electronics by 160.3% in the 2nd quarter. Chicago Equity Partners LLC now owns 19,260 shares of the electronics maker’s stock worth $794,000 after purchasing an additional 11,860 shares during the period. Crawford Investment Counsel Inc. lifted its position in shares of Methode Electronics by 7.6% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 43,763 shares of the electronics maker’s stock worth $1,803,000 after purchasing an additional 3,100 shares during the period. Principal Financial Group Inc. lifted its position in shares of Methode Electronics by 4.1% in the 2nd quarter. Principal Financial Group Inc. now owns 302,558 shares of the electronics maker’s stock worth $12,466,000 after purchasing an additional 11,975 shares during the period. Prudential Financial Inc. lifted its position in shares of Methode Electronics by 41.6% in the 2nd quarter. Prudential Financial Inc. now owns 110,066 shares of the electronics maker’s stock worth $4,535,000 after purchasing an additional 32,315 shares during the period. Finally, Bridge City Capital LLC acquired a new position in shares of Methode Electronics in the 2nd quarter worth approximately $1,219,000. Hedge funds and other institutional investors own 89.80% of the company’s stock.

Shares of Methode Electronics, Inc. (MEI) opened at 41.10 on Friday. Methode Electronics, Inc. has a 1-year low of $29.85 and a 1-year high of $46.40. The stock has a 50 day moving average of $38.80 and a 200 day moving average of $41.19. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 16.71 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, August 31st. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.12. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The firm had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $189.40 million. During the same quarter last year, the business earned $0.57 earnings per share. The business’s revenue was up 4.8% on a year-over-year basis. Analysts predict that Methode Electronics, Inc. will post $2.53 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date is Thursday, October 12th. Methode Electronics’s dividend payout ratio is 14.63%.

A number of research analysts have recently issued reports on MEI shares. Robert W. Baird restated an “outperform” rating and issued a $47.00 price target (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. B. Riley restated a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Friday, June 23rd. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, FBR & Co restated an “outperform” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Methode Electronics currently has an average rating of “Hold” and an average target price of $48.25.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://www.dailypolitical.com/2017/09/23/state-of-tennessee-treasury-department-continues-to-hold-stake-in-methode-electronics-inc-mei.html.

Methode Electronics 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.

Want to see what other hedge funds are holding MEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methode Electronics, Inc. (NYSE:MEI).

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

Receive News & Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.