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Methode Electronics, Inc. (MEI) Stake Reduced by Investment Counselors of Maryland LLC

Methode Electronics logoInvestment Counselors of Maryland LLC decreased its stake in Methode Electronics, Inc. (NYSE:MEI) by 6.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 461,447 shares of the electronics maker’s stock after selling 33,800 shares during the period. Investment Counselors of Maryland LLC owned about 1.25% of Methode Electronics worth $19,012,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of MEI. Legato Capital Management LLC boosted 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 valued at $1,490,000 after buying an additional 66,454 shares during the last quarter. Strs Ohio boosted 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 valued at $1,053,000 after buying an additional 10,500 shares during the last quarter. Dubuque Bank & Trust Co. acquired a new position in Methode Electronics during the first quarter valued at approximately $202,000. Envestnet Asset Management Inc. boosted 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 valued at $478,000 after buying an additional 803 shares during the last quarter. Finally, Sawgrass Asset Management LLC acquired a new position in Methode Electronics during the first quarter valued at approximately $346,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

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Methode Electronics, Inc. (NYSE:MEI) opened at 38.75 on Friday. The stock has a 50 day moving average price of $40.53 and a 200-day moving average price of $41.98. Methode Electronics, Inc. has a 12-month low of $29.85 and a 12-month high of $46.40. The stock has a market capitalization of $1.43 billion, a PE ratio of 15.62 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The firm had revenue of $219.70 million for the quarter, compared to analysts’ expectations of $214.39 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. 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 announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 14th were issued a $0.09 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. Methode Electronics’s dividend payout ratio (DPR) is 14.52%.

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Several equities analysts recently commented on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. BidaskClub cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Robert W. Baird reiterated an “outperform” rating and issued a $47.00 price objective (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. FBR & Co reiterated an “outperform” rating and issued a $49.00 price objective on shares of Methode Electronics in a report on Tuesday, July 18th. Finally, B. Riley reiterated a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price 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.

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

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