Nisa Investment Advisors LLC Reduces Position in Methode Electronics, Inc. (NYSE:MEI)

Nisa Investment Advisors LLC trimmed its holdings in Methode Electronics, Inc. (NYSE:MEIGet Rating) by 10.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 2,410 shares of the electronics maker’s stock after selling 270 shares during the period. Nisa Investment Advisors LLC’s holdings in Methode Electronics were worth $104,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. First Republic Investment Management Inc. grew its stake in Methode Electronics by 3.9% in the 4th quarter. First Republic Investment Management Inc. now owns 18,290 shares of the electronics maker’s stock worth $899,000 after acquiring an additional 693 shares in the last quarter. NorthCrest Asset Manangement LLC raised its position in Methode Electronics by 3.5% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 23,700 shares of the electronics maker’s stock valued at $1,025,000 after purchasing an additional 800 shares in the last quarter. Covestor Ltd purchased a new stake in shares of Methode Electronics in the 4th quarter worth $48,000. New Century Advisors LLC bought a new position in shares of Methode Electronics during the 4th quarter worth $49,000. Finally, Assenagon Asset Management S.A. increased its stake in shares of Methode Electronics by 3.0% during the first quarter. Assenagon Asset Management S.A. now owns 35,613 shares of the electronics maker’s stock valued at $1,540,000 after buying an additional 1,026 shares during the period. 95.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MEI shares. Robert W. Baird lowered their price objective on shares of Methode Electronics from $46.00 to $42.00 and set a “neutral” rating for the company in a research note on Wednesday, June 15th. downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th.

Methode Electronics Trading Up 2.4 %

MEI opened at $41.24 on Friday. Methode Electronics, Inc. has a 12 month low of $33.91 and a 12 month high of $49.94. The stock has a fifty day moving average price of $39.70 and a 200-day moving average price of $42.82. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 14.98 and a beta of 1.14. The company has a current ratio of 3.34, a quick ratio of 2.49 and a debt-to-equity ratio of 0.22.

Methode Electronics (NYSE:MEIGet Rating) last released its quarterly earnings results on Thursday, June 23rd. The electronics maker reported $0.43 EPS for the quarter, meeting the consensus estimate of $0.43. Methode Electronics had a net margin of 8.78% and a return on equity of 11.15%. The business had revenue of $288.70 million during the quarter, compared to analyst estimates of $289.10 million. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post 2.88 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Stockholders of record on Friday, July 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, July 14th. Methode Electronics’s payout ratio is presently 20.82%.

Insider Transactions at Methode Electronics

In related news, COO Joseph Elias Khoury sold 8,000 shares of the company’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $38.55, for a total transaction of $308,400.00. Following the transaction, the chief operating officer now directly owns 396,420 shares of the company’s stock, valued at approximately $15,281,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.30% of the company’s stock.

Methode Electronics Company 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.

See Also

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

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