Chartwell Investment Partners LLC lifted its holdings in Methode Electronics Inc. (NYSE:MEI) by 0.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,078 shares of the electronics maker’s stock after purchasing an additional 615 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Methode Electronics were worth $2,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of MEI. First Interstate Bank raised its stake in shares of Methode Electronics by 13.4% in the fourth quarter. First Interstate Bank now owns 4,311 shares of the electronics maker’s stock worth $100,000 after purchasing an additional 510 shares during the last quarter. Unison Advisors LLC purchased a new position in shares of Methode Electronics in the fourth quarter worth $241,000. PNC Financial Services Group Inc. raised its stake in shares of Methode Electronics by 42.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,354 shares of the electronics maker’s stock worth $242,000 after purchasing an additional 3,108 shares during the last quarter. Stone Ridge Asset Management LLC purchased a new position in shares of Methode Electronics in the fourth quarter worth $253,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in shares of Methode Electronics by 330.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,051 shares of the electronics maker’s stock worth $281,000 after purchasing an additional 9,251 shares during the last quarter. Hedge funds and other institutional investors own 97.34% of the company’s stock.

Shares of MEI opened at $29.54 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 1.83. Methode Electronics Inc. has a one year low of $20.99 and a one year high of $45.45. The firm has a market capitalization of $1.10 billion, a P/E ratio of 9.85 and a beta of 1.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, March 7th. The electronics maker reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.23. Methode Electronics had a return on equity of 18.64% and a net margin of 10.76%. The company had revenue of $246.90 million during the quarter, compared to analyst estimates of $259.29 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. Methode Electronics’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts predict that Methode Electronics Inc. will post 2.89 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.49%. The ex-dividend date is Thursday, April 11th. Methode Electronics’s payout ratio is currently 14.67%.

In other news, CAO Amit N. Patel acquired 1,021 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $27.54 per share, with a total value of $28,118.34. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.40% of the company’s stock.

Several research analysts have recently weighed in on MEI shares. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price target for the company in a research note on Thursday, March 7th. Craig Hallum upgraded Methode Electronics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $42.00 in a research note on Friday, March 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $40.25.

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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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