Methode Electronics (NYSE:MEI) Sees Large Volume Increase

Methode Electronics, Inc. (NYSE:MEIGet Rating) shares saw unusually-high trading volume on Friday . Approximately 9,496 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 172,415 shares.The stock last traded at $37.55 and had previously closed at $36.77.

MEI has been the subject of a number of research reports. Robert W. Baird lowered their price objective on Methode Electronics from $46.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday. StockNews.com lowered Methode Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday.

The firm has a market cap of $1.37 billion, a P/E ratio of 11.98 and a beta of 1.08. The company has a fifty day moving average price of $44.20 and a two-hundred day moving average price of $44.73. The company has a current ratio of 3.14, a quick ratio of 2.32 and a debt-to-equity ratio of 0.22.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH raised its stake in shares of Methode Electronics by 14.9% during the 4th quarter. Allianz Asset Management GmbH now owns 31,534 shares of the electronics maker’s stock worth $1,551,000 after purchasing an additional 4,082 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Methode Electronics during the 4th quarter worth approximately $10,116,000. Bank of New York Mellon Corp increased its holdings in shares of Methode Electronics by 1.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 581,490 shares of the electronics maker’s stock worth $24,451,000 after acquiring an additional 10,241 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Methode Electronics by 4.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,307,784 shares of the electronics maker’s stock worth $64,304,000 after acquiring an additional 53,431 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in shares of Methode Electronics by 21.5% during the 4th quarter. Teacher Retirement System of Texas now owns 7,353 shares of the electronics maker’s stock worth $362,000 after acquiring an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 95.41% of the company’s stock.

Methode Electronics Company Profile (NYSE:MEI)

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices 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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