Dupont Capital Management Corp Has $1,482,000 Stake in Methode Electronics, Inc. (MEI)
Dupont Capital Management Corp maintained its position in Methode Electronics, Inc. (NYSE:MEI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,962 shares of the electronics maker’s stock at the end of the second quarter. Dupont Capital Management Corp owned approximately 0.10% of Methode Electronics worth $1,482,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Methode Electronics by 117,664.2% in the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after buying an additional 4,408,878 shares in the last quarter. Opus Capital Group LLC purchased a new position in Methode Electronics during the first quarter worth approximately $7,306,000. Clark Capital Management Group Inc. purchased a new position in Methode Electronics during the first quarter worth approximately $6,901,000. Vanguard Group Inc. boosted its position in Methode Electronics by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after buying an additional 131,039 shares in the last quarter. Finally, New Amsterdam Partners LLC NY purchased a new position in Methode Electronics during the second quarter worth approximately $5,065,000. 90.11% of the stock is currently owned by institutional investors and hedge funds.
Methode Electronics, Inc. (NYSE MEI) opened at 37.75 on Tuesday. Methode Electronics, Inc. has a 52 week low of $29.85 and a 52 week high of $46.40. The company has a market capitalization of $1.39 billion, a PE ratio of 15.22 and a beta of 0.76. The stock’s 50 day moving average price is $39.71 and its 200-day moving average price is $41.69.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, June 22nd. The electronics maker reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The business had revenue of $219.70 million for the quarter, compared to the consensus estimate of $214.39 million. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 EPS. On average, equities research analysts predict that Methode Electronics, Inc. will post $2.46 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were paid a $0.09 dividend. The ex-dividend date was Wednesday, July 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.95%. Methode Electronics’s dividend payout ratio is currently 14.52%.
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A number of research analysts recently commented on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. BidaskClub cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Robert W. Baird reissued an “outperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. FBR & Co reissued an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a research note on Tuesday, July 18th. Finally, B. Riley reissued a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research note on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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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