Shell Asset Management Co. Sells 1,059 Shares of Methode Electronics, Inc. (NYSE:MEI)

Shell Asset Management Co. cut its stake in Methode Electronics, Inc. (NYSE:MEIGet Rating) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,276 shares of the electronics maker’s stock after selling 1,059 shares during the period. Shell Asset Management Co.’s holdings in Methode Electronics were worth $315,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. First Republic Investment Management Inc. boosted its holdings in Methode Electronics by 3.9% in the 4th quarter. First Republic Investment Management Inc. now owns 18,290 shares of the electronics maker’s stock valued at $899,000 after purchasing an additional 693 shares during the period. NorthCrest Asset Manangement LLC boosted its holdings in Methode Electronics by 3.5% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 23,700 shares of the electronics maker’s stock valued at $1,025,000 after purchasing an additional 800 shares during the period. Covestor Ltd bought a new stake in Methode Electronics in the 4th quarter valued at $48,000. New Century Advisors LLC bought a new stake in Methode Electronics in the 4th quarter valued at $49,000. Finally, Assenagon Asset Management S.A. boosted its holdings in Methode Electronics by 3.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,613 shares of the electronics maker’s stock valued at $1,540,000 after purchasing an additional 1,026 shares during the period. 95.41% of the stock is owned by institutional investors.

Methode Electronics Price Performance

NYSE:MEI opened at $41.15 on Friday. The company has a 50-day moving average of $39.46 and a 200-day moving average of $42.52. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 15.30 and a beta of 1.15. Methode Electronics, Inc. has a 52 week low of $33.91 and a 52 week high of $49.94. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.49 and a current ratio of 3.34.

Methode Electronics (NYSE:MEIGet Rating) last announced its earnings results on Thursday, June 23rd. The electronics maker reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $288.70 million during the quarter, compared to analysts’ expectations of $289.10 million. Methode Electronics had a net margin of 8.78% and a return on equity of 11.15%. As a group, equities research analysts anticipate that Methode Electronics, Inc. will post 2.88 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 29th. Investors of record on Friday, July 15th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, July 14th. Methode Electronics’s dividend payout ratio (DPR) is currently 20.82%.

Wall Street Analysts Forecast Growth

MEI has been the subject of a number of analyst reports. Robert W. Baird reduced their price objective on shares of Methode Electronics from $46.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, June 15th. StockNews.com downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th.

Insider Buying and Selling

In related news, COO Joseph Elias Khoury sold 8,000 shares of the stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $38.55, for a total transaction of $308,400.00. Following the completion of the sale, the chief operating officer now owns 396,420 shares in the company, valued at approximately $15,281,991. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 4.50% of the stock is currently owned by corporate insiders.

About Methode Electronics

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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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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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