Investment Counselors of Maryland LLC boosted its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 15.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 560,095 shares of the electronics maker’s stock after purchasing an additional 75,109 shares during the quarter. Investment Counselors of Maryland LLC owned 1.51% of Methode Electronics worth $20,275,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC acquired a new position in Methode Electronics during the 2nd quarter valued at $113,000. Creative Planning acquired a new position in Methode Electronics during the 2nd quarter valued at $202,000. Hartford Investment Management Co. acquired a new position in Methode Electronics during the 2nd quarter valued at $230,000. First Hawaiian Bank acquired a new position in Methode Electronics during the 3rd quarter valued at $242,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Methode Electronics during the 1st quarter valued at $260,000. Hedge funds and other institutional investors own 94.14% of the company’s stock.

In other news, Director Isabelle C. Goossen sold 2,500 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $39.32, for a total value of $98,300.00. Following the completion of the transaction, the director now owns 40,450 shares in the company, valued at approximately $1,590,494. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 3.40% of the company’s stock.

A number of equities analysts have recently issued reports on MEI shares. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 22nd. ValuEngine upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 8th. TheStreet cut shares of Methode Electronics from a “b-” rating to a “c+” rating in a research note on Tuesday, October 2nd. Finally, Robert W. Baird cut shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Methode Electronics has an average rating of “Hold” and an average price target of $48.00.

Shares of MEI stock opened at $30.23 on Wednesday. Methode Electronics Inc. has a 52-week low of $27.65 and a 52-week high of $48.44. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.08 and a beta of 1.25. The company has a quick ratio of 3.18, a current ratio of 3.83 and a debt-to-equity ratio of 0.08.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, August 30th. The electronics maker reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. Methode Electronics had a net margin of 6.49% and a return on equity of 18.93%. The company had revenue of $223.40 million during the quarter, compared to analysts’ expectations of $230.69 million. During the same quarter in the prior year, the company posted $0.55 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities research analysts forecast that Methode Electronics Inc. will post 2.9 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Thursday, October 11th. Methode Electronics’s dividend payout ratio is 14.67%.

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About Methode Electronics

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

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