Zurcher Kantonalbank Zurich Cantonalbank Cuts Position in Methode Electronics, Inc. (NYSE:MEI)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,442 shares of the electronics maker’s stock after selling 1,514 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Methode Electronics were worth $146,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MEI. Vanguard Group Inc. boosted its position in Methode Electronics by 4.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,671,072 shares of the electronics maker’s stock worth $106,734,000 after purchasing an additional 201,129 shares during the period. FMR LLC boosted its position in shares of Methode Electronics by 9.1% in the third quarter. FMR LLC now owns 4,372,124 shares of the electronics maker’s stock worth $99,903,000 after buying an additional 364,616 shares during the period. William Blair Investment Management LLC grew its stake in shares of Methode Electronics by 3.3% in the third quarter. William Blair Investment Management LLC now owns 1,084,802 shares of the electronics maker’s stock valued at $24,788,000 after buying an additional 35,102 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Methode Electronics by 6.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 490,849 shares of the electronics maker’s stock valued at $11,216,000 after buying an additional 29,130 shares during the period. Finally, Rhumbline Advisers lifted its position in Methode Electronics by 72.2% during the 3rd quarter. Rhumbline Advisers now owns 212,496 shares of the electronics maker’s stock worth $4,856,000 after acquiring an additional 89,123 shares in the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Stock Performance

Shares of MEI opened at $11.42 on Thursday. Methode Electronics, Inc. has a 52-week low of $11.09 and a 52-week high of $46.58. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.40. The firm has a market cap of $404.15 million, a price-to-earnings ratio of -6.96 and a beta of 0.84. The business’s 50 day moving average is $13.15 and its two-hundred day moving average is $19.07.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.40). The company had revenue of $259.50 million for the quarter, compared to the consensus estimate of $288.50 million. Methode Electronics had a negative net margin of 5.09% and a positive return on equity of 0.07%. During the same quarter last year, the company earned $0.54 earnings per share. Analysts forecast that Methode Electronics, Inc. will post -0.41 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Thursday, April 11th. Methode Electronics’s payout ratio is currently -34.15%.

Analyst Ratings Changes

MEI has been the subject of several recent research reports. Jefferies Financial Group began coverage on shares of Methode Electronics in a research report on Tuesday, April 9th. They issued a “hold” rating and a $12.00 price objective for the company. Sidoti reaffirmed a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research note on Thursday, March 7th.

Methode Electronics Company 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.