Fmr LLC Has $145.33 Million Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

Fmr LLC grew its stake in Methode Electronics, Inc. (NYSE:MEI) by 25.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,312,057 shares of the electronics maker’s stock after purchasing an additional 673,278 shares during the quarter. Fmr LLC owned about 9.20% of Methode Electronics worth $145,333,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Cerity Partners LLC acquired a new position in shares of Methode Electronics in the 1st quarter valued at $2,752,000. ExodusPoint Capital Management LP acquired a new position in shares of Methode Electronics in the 1st quarter valued at $713,000. American Century Companies Inc. lifted its stake in shares of Methode Electronics by 7.5% in the 1st quarter. American Century Companies Inc. now owns 55,461 shares of the electronics maker’s stock valued at $2,388,000 after purchasing an additional 3,869 shares during the period. Envestnet Asset Management Inc. increased its position in shares of Methode Electronics by 662.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 260,439 shares of the electronics maker’s stock valued at $1,457,000 after buying an additional 226,270 shares in the last quarter. Finally, Aviance Capital Partners LLC increased its position in shares of Methode Electronics by 1.2% in the 1st quarter. Aviance Capital Partners LLC now owns 30,018 shares of the electronics maker’s stock valued at $1,317,000 after buying an additional 368 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

Methode Electronics Price Performance

MEI stock opened at $31.11 on Friday. The stock has a 50-day moving average price of $32.64 and a two-hundred day moving average price of $39.37. The stock has a market cap of $1.16 billion, a PE ratio of 14.89 and a beta of 1.04. The company has a current ratio of 2.91, a quick ratio of 2.21 and a debt-to-equity ratio of 0.32. Methode Electronics, Inc. has a 1 year low of $30.81 and a 1 year high of $51.38.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, June 22nd. The electronics maker reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.02). The firm had revenue of $301.20 million for the quarter, compared to the consensus estimate of $301.60 million. Methode Electronics had a return on equity of 8.30% and a net margin of 6.54%. Equities analysts forecast that Methode Electronics, Inc. will post 1.55 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Thursday, July 13th. Methode Electronics’s dividend payout ratio (DPR) is presently 26.79%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. TheStreet cut shares of Methode Electronics from a “b” rating to a “c+” rating in a research report on Thursday, June 22nd. StockNews.com assumed coverage on shares of Methode Electronics in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Finally, Robert W. Baird lowered their price objective on shares of Methode Electronics from $42.00 to $38.00 in a research report on Friday, June 23rd.

Methode Electronics Profile

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.