International Assets Investment Management LLC Buys 5,609 Shares of Methode Electronics, Inc. (NYSE:MEI)

International Assets Investment Management LLC raised its stake in Methode Electronics, Inc. (NYSE:MEI) by 2,182.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,866 shares of the electronics maker’s stock after acquiring an additional 5,609 shares during the quarter. International Assets Investment Management LLC’s holdings in Methode Electronics were worth $133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake in Methode Electronics by 503.2% in the 3rd quarter. CWM LLC now owns 1,689 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 1,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Methode Electronics by 31.4% during the 3rd 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 in the last quarter. Verdence Capital Advisors LLC bought a new position in Methode Electronics in the 3rd quarter worth approximately $208,000. PNC Financial Services Group Inc. grew its stake in Methode Electronics by 30.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,809 shares of the electronics maker’s stock valued at $224,000 after buying an additional 2,283 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new stake in Methode Electronics during the 3rd quarter valued at $229,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Sidoti reiterated a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research report on Thursday, March 7th. Jefferies Financial Group began coverage on Methode Electronics in a report on Tuesday, April 9th. They set a “hold” rating and a $12.00 target price for the company.

Methode Electronics Trading Up 3.2 %

Shares of MEI stock opened at $12.61 on Tuesday. The company has a market capitalization of $446.27 million, a PE ratio of -7.69 and a beta of 0.86. Methode Electronics, Inc. has a 52-week low of $11.09 and a 52-week high of $46.58. The business’s fifty day moving average is $14.48 and its 200 day moving average is $19.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.85 and a current ratio of 2.74.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.40). Methode Electronics had a negative net margin of 5.09% and a positive return on equity of 0.07%. The business had revenue of $259.50 million during the quarter, compared to analysts’ expectations of $288.50 million. During the same period in the previous year, the business earned $0.54 EPS. On average, equities research analysts anticipate that Methode Electronics, Inc. will post -0.41 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 12th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date was Thursday, April 11th. Methode Electronics’s payout ratio is -34.15%.

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.