Envestnet Asset Management Inc. Boosts Holdings in Methode Electronics, Inc. (NYSE:MEI)

Envestnet Asset Management Inc. grew its holdings in Methode Electronics, Inc. (NYSE:MEIGet Rating) by 55.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 34,256 shares of the electronics maker’s stock after purchasing an additional 12,172 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Methode Electronics were worth $1,269,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in Methode Electronics by 6.9% in the first quarter. Teacher Retirement System of Texas now owns 7,864 shares of the electronics maker’s stock valued at $340,000 after acquiring an additional 511 shares in the last quarter. New Century Advisors LLC raised its holdings in Methode Electronics by 56.4% in the second quarter. New Century Advisors LLC now owns 837 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 302 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Methode Electronics by 0.4% during the first quarter. William Blair Investment Management LLC now owns 1,065,668 shares of the electronics maker’s stock worth $46,090,000 after purchasing an additional 4,565 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Methode Electronics by 6.2% during the first quarter. Mercer Global Advisors Inc. ADV now owns 5,743 shares of the electronics maker’s stock worth $248,000 after purchasing an additional 335 shares in the last quarter. Finally, Integrated Investment Consultants LLC acquired a new stake in Methode Electronics during the second quarter worth approximately $221,000. Institutional investors and hedge funds own 94.03% of the company’s stock.

Methode Electronics Trading Up 4.1 %

NYSE:MEI opened at $45.50 on Wednesday. The stock has a fifty day simple moving average of $39.80 and a 200-day simple moving average of $40.34. Methode Electronics, Inc. has a 52-week low of $33.91 and a 52-week high of $49.94. The company has a market capitalization of $1.66 billion, a PE ratio of 18.13 and a beta of 1.13. The company has a quick ratio of 2.38, a current ratio of 3.26 and a debt-to-equity ratio of 0.21.

Methode Electronics (NYSE:MEIGet Rating) last posted its quarterly earnings data on Thursday, September 1st. The electronics maker reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.10. Methode Electronics had a net margin of 8.17% and a return on equity of 10.39%. The company had revenue of $282.40 million during the quarter, compared to the consensus estimate of $275.00 million. On average, equities research analysts expect that Methode Electronics, Inc. will post 2.9 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, October 13th. Methode Electronics’s dividend payout ratio is currently 22.31%.

Insider Transactions at Methode Electronics

In other news, COO Joseph Elias Khoury sold 12,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $38.50, for a total transaction of $462,000.00. Following the completion of the sale, the chief operating officer now owns 384,420 shares in the company, valued at approximately $14,800,170. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on MEI. StockNews.com initiated coverage on shares of Methode Electronics in a report on Wednesday, October 12th. They set a “buy” rating on the stock. Barrington Research reaffirmed a “market perform” rating on shares of Methode Electronics in a report on Wednesday, October 5th. Finally, Jefferies Financial Group started coverage on shares of Methode Electronics in a research report on Tuesday. They issued a “buy” rating and a $52.00 price objective on the stock.

Methode Electronics Profile

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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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