Morgan Stanley cut its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 49.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,495 shares of the electronics maker’s stock after selling 89,420 shares during the period. Morgan Stanley’s holdings in Methode Electronics were worth $4,126,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Teachers Advisors LLC raised its stake in Methode Electronics by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 67,120 shares of the electronics maker’s stock valued at $2,775,000 after buying an additional 2,749 shares during the period. Bank of Montreal Can raised its stake in Methode Electronics by 307.0% in the first quarter. Bank of Montreal Can now owns 51,965 shares of the electronics maker’s stock valued at $2,369,000 after buying an additional 39,198 shares during the period. Louisiana State Employees Retirement System raised its stake in Methode Electronics by 0.7% in the first quarter. Louisiana State Employees Retirement System now owns 15,000 shares of the electronics maker’s stock valued at $684,000 after buying an additional 100 shares during the period. Legato Capital Management LLC raised its stake in Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock valued at $1,490,000 after buying an additional 66,454 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock valued at $185,000 after buying an additional 60 shares during the period. 90.11% of the stock is currently owned by hedge funds and other institutional investors.

Methode Electronics, Inc. (NYSE:MEI) traded up 1.73% during mid-day trading on Monday, reaching $38.30. The company had a trading volume of 15,133 shares. The stock has a market capitalization of $1.41 billion, a P/E ratio of 15.44 and a beta of 0.76. Methode Electronics, Inc. has a 12-month low of $29.85 and a 12-month high of $46.40. The stock has a 50 day moving average price of $40.11 and a 200-day moving average price of $41.84.

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, June 22nd. The electronics maker reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The business had revenue of $219.70 million during the quarter, compared to analysts’ expectations of $214.39 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm’s revenue was up 3.2% on a year-over-year basis. Equities analysts anticipate that Methode Electronics, Inc. will post $2.46 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.96%. The ex-dividend date was Wednesday, July 12th. Methode Electronics’s payout ratio is 14.52%.

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Several analysts have recently issued reports on MEI shares. BidaskClub lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. FBR & Co reissued an “outperform” rating and set a $49.00 target price on shares of Methode Electronics in a report on Tuesday, July 18th. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. B. Riley reissued a “buy” rating and set a $49.00 target price on shares of Methode Electronics in a report on Friday, June 23rd. Finally, Robert W. Baird reissued an “outperform” rating and set a $47.00 target price (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. Two analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Methode Electronics has a consensus rating of “Hold” and an average price target of $46.00.

About Methode Electronics

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

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

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