Mackenzie Financial Corp purchased a new position in shares of Methode Electronics, Inc. (NYSE:MEI – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,114 shares of the electronics maker’s stock, valued at approximately $434,000. Mackenzie Financial Corp owned 0.05% of Methode Electronics as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Methode Electronics by 503.2% during the third quarter. CWM LLC now owns 1,689 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 1,409 shares during the period. Nisa Investment Advisors LLC lifted its holdings in Methode Electronics by 295.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker’s stock valued at $62,000 after buying an additional 2,025 shares during the period. International Assets Investment Management LLC lifted its holdings in Methode Electronics by 2,182.5% in the fourth quarter. International Assets Investment Management LLC now owns 5,866 shares of the electronics maker’s stock valued at $133,000 after buying an additional 5,609 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Methode Electronics by 31.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,956 shares of the electronics maker’s stock valued at $182,000 after buying an additional 1,899 shares during the period. Finally, Verdence Capital Advisors LLC acquired a new position in Methode Electronics in the third quarter valued at $208,000. Institutional investors and hedge funds own 95.49% of the company’s stock.
Methode Electronics Trading Up 0.8 %
NYSE:MEI opened at $12.23 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.74 and a quick ratio of 1.85. The firm has a 50-day moving average of $14.66 and a 200-day moving average of $19.81. The company has a market cap of $432.82 million, a PE ratio of -7.46 and a beta of 0.86. Methode Electronics, Inc. has a one year low of $11.09 and a one year high of $46.58.
Methode Electronics Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 4.58%. The ex-dividend date was Thursday, April 11th. Methode Electronics’s payout ratio is presently -34.15%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on MEI. Sidoti restated a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a report on Thursday, March 7th. Jefferies Financial Group began coverage on shares of Methode Electronics in a report on Tuesday, April 9th. They issued a “hold” rating and a $12.00 target price on the stock.
View Our Latest Research Report on MEI
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.
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