Shell Asset Management Co. Has $315,000 Holdings in Methode Electronics, Inc. (NYSE:MEI)

Shell Asset Management Co. lowered its position in shares of Methode Electronics, Inc. (NYSE:MEIGet Rating) by 12.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,276 shares of the electronics maker’s stock after selling 1,059 shares during the quarter. Shell Asset Management Co.’s holdings in Methode Electronics were worth $315,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. First Republic Investment Management Inc. raised its holdings in shares of Methode Electronics by 3.9% during the fourth quarter. First Republic Investment Management Inc. now owns 18,290 shares of the electronics maker’s stock valued at $899,000 after acquiring an additional 693 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Methode Electronics by 3.5% during the first quarter. NorthCrest Asset Manangement LLC now owns 23,700 shares of the electronics maker’s stock valued at $1,025,000 after acquiring an additional 800 shares during the period. Covestor Ltd acquired a new stake in shares of Methode Electronics during the fourth quarter valued at approximately $48,000. New Century Advisors LLC acquired a new stake in shares of Methode Electronics during the fourth quarter valued at approximately $49,000. Finally, Assenagon Asset Management S.A. raised its holdings 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 acquiring an additional 1,026 shares during the period. Institutional investors and hedge funds own 95.41% of the company’s stock.

Methode Electronics Stock Down 0.9 %

Methode Electronics stock opened at $41.15 on Friday. The firm has a market cap of $1.58 billion, a PE ratio of 15.30 and a beta of 1.15. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.49 and a current ratio of 3.34. The firm’s 50 day moving average price is $39.46 and its two-hundred day moving average price is $42.52. Methode Electronics, Inc. has a twelve month low of $33.91 and a twelve month high of $49.94.

Methode Electronics (NYSE:MEIGet Rating) last announced its quarterly earnings results on Thursday, June 23rd. The electronics maker reported $0.43 EPS for the quarter, hitting the consensus estimate of $0.43. Methode Electronics had a net margin of 8.78% and a return on equity of 11.15%. The company had revenue of $288.70 million for the quarter, compared to analyst estimates of $289.10 million. On average, research analysts predict that Methode Electronics, Inc. will post 2.88 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have weighed in on MEI shares. Robert W. Baird dropped their price objective on shares of Methode Electronics from $46.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 15th. StockNews.com lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th.

Insider Transactions at Methode Electronics

In other news, COO Joseph Elias Khoury sold 8,000 shares of the stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $38.55, for a total transaction of $308,400.00. Following the transaction, the chief operating officer now owns 396,420 shares in the company, valued at approximately $15,281,991. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.50% of the stock is currently owned by company insiders.

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.

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

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