New Century Advisors LLC Buys 302 Shares of Methode Electronics, Inc. (NYSE:MEI)

New Century Advisors LLC raised its holdings in Methode Electronics, Inc. (NYSE:MEIGet Rating) by 56.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 837 shares of the electronics maker’s stock after buying an additional 302 shares during the quarter. New Century Advisors LLC’s holdings in Methode Electronics were worth $31,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MEI. Captrust Financial Advisors lifted its stake in Methode Electronics by 29.5% in the first quarter. Captrust Financial Advisors now owns 3,824 shares of the electronics maker’s stock valued at $165,000 after buying an additional 870 shares during the period. First Citizens Bank & Trust Co. acquired a new position in Methode Electronics in the fourth quarter valued at approximately $202,000. Aaron Wealth Advisors LLC acquired a new position in Methode Electronics in the first quarter valued at approximately $204,000. Mercer Global Advisors Inc. ADV lifted its stake in Methode Electronics by 6.2% in the first quarter. Mercer Global Advisors Inc. ADV now owns 5,743 shares of the electronics maker’s stock valued at $248,000 after buying an additional 335 shares during the period. Finally, MQS Management LLC acquired a new position in Methode Electronics in the first quarter valued at approximately $277,000. 94.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MEI has been the topic of a number of research reports. StockNews.com raised Methode Electronics from a “hold” rating to a “buy” rating in a research report on Friday. Robert W. Baird lowered their target price on Methode Electronics from $46.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 15th.

Methode Electronics Stock Down 4.3 %

Shares of NYSE:MEI traded down $1.59 during trading on Friday, reaching $35.76. 7,894 shares of the stock were exchanged, compared to its average volume of 135,646. The company has a debt-to-equity ratio of 0.21, a current ratio of 3.26 and a quick ratio of 2.38. Methode Electronics, Inc. has a 1-year low of $33.91 and a 1-year high of $49.94. The stock has a fifty day moving average of $40.02 and a two-hundred day moving average of $41.46. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 14.43 and a beta of 1.14.

Methode Electronics (NYSE:MEIGet Rating) last announced its quarterly earnings results on Thursday, June 23rd. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. Methode Electronics had a return on equity of 10.39% and a net margin of 8.17%. The business had revenue of $288.70 million during the quarter, compared to the consensus estimate of $289.10 million. Research analysts anticipate that Methode Electronics, Inc. will post 2.9 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, October 13th. This represents a $0.56 annualized dividend and a yield of 1.57%. Methode Electronics’s dividend payout ratio (DPR) is currently 22.31%.

Insider Buying and Selling

In related news, COO Joseph Elias Khoury sold 12,000 shares of the company’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $38.50, for a total transaction of $462,000.00. Following the completion of the sale, the chief operating officer now owns 384,420 shares in the company, valued at $14,800,170. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.

Methode Electronics Profile

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Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies 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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