Baird Financial Group Inc. Makes New Investment in Methode Electronics, Inc. (NYSE:MEI)

Baird Financial Group Inc. acquired a new position in Methode Electronics, Inc. (NYSE:MEIGet Rating) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,439 shares of the electronics maker’s stock, valued at approximately $239,000.

Other hedge funds also recently modified their holdings of the company. Teacher Retirement System of Texas lifted its position in shares of Methode Electronics by 6.9% in the 1st quarter. Teacher Retirement System of Texas now owns 7,864 shares of the electronics maker’s stock worth $340,000 after acquiring an additional 511 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Methode Electronics during the 2nd quarter worth approximately $775,000. New Century Advisors LLC lifted its position in shares of Methode Electronics by 56.4% during the 2nd quarter. New Century Advisors LLC now owns 837 shares of the electronics maker’s stock worth $31,000 after buying an additional 302 shares during the period. William Blair Investment Management LLC lifted its position in shares of Methode Electronics by 0.4% during the 1st quarter. William Blair Investment Management LLC now owns 1,065,668 shares of the electronics maker’s stock worth $46,090,000 after buying an additional 4,565 shares during the period. Finally, Mercer Global Advisors Inc. ADV lifted its position in shares of Methode Electronics by 6.2% during the 1st quarter. Mercer Global Advisors Inc. ADV now owns 5,743 shares of the electronics maker’s stock worth $248,000 after buying an additional 335 shares during the period. Institutional investors own 94.03% of the company’s stock.

Methode Electronics Trading Down 0.4 %

Shares of MEI opened at $45.34 on Thursday. The stock has a fifty day moving average price of $39.94 and a two-hundred day moving average price of $40.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.38 and a current ratio of 3.26. Methode Electronics, Inc. has a 52-week low of $33.91 and a 52-week high of $49.94. The company has a market cap of $1.66 billion, a price-to-earnings ratio of 18.06 and a beta of 1.13.

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

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, October 13th. This represents a $0.56 annualized dividend and a dividend yield of 1.24%. Methode Electronics’s dividend payout ratio (DPR) is currently 22.31%.

Insider Activity

In other news, COO Joseph Elias Khoury sold 12,000 shares of Methode Electronics stock in a transaction on Monday, September 19th. The stock was sold at an average price of $38.50, for a total value of $462,000.00. Following the completion of the sale, the chief operating officer now directly owns 384,420 shares of the company’s stock, valued at approximately $14,800,170. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MEI. Barrington Research restated a “market perform” rating on shares of Methode Electronics in a research report on Wednesday, October 5th. Jefferies Financial Group began coverage on Methode Electronics in a research report on Tuesday. They set a “buy” rating and a $52.00 target price for the company. Finally, StockNews.com began coverage on Methode Electronics in a research report on Wednesday, October 12th. They issued a “buy” rating for the company.

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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