Alpha Omega Wealth Management LLC raised its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 3.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,040 shares of the electronics maker’s stock after buying an additional 2,451 shares during the period. Methode Electronics makes up about 1.5% of Alpha Omega Wealth Management LLC’s holdings, making the stock its 29th largest position. Alpha Omega Wealth Management LLC owned 0.19% of Methode Electronics worth $2,886,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MEI. Teachers Advisors LLC increased its position in Methode Electronics by 4.3% in the fourth quarter. Teachers Advisors LLC now owns 67,120 shares of the electronics maker’s stock worth $2,775,000 after buying an additional 2,749 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Methode Electronics by 307.0% in the first quarter. Bank of Montreal Can now owns 51,965 shares of the electronics maker’s stock worth $2,369,000 after buying an additional 39,198 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of 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 worth $684,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of 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 worth $185,000 after buying an additional 60 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Methode Electronics by 6.0% in the first quarter. Nationwide Fund Advisors now owns 63,599 shares of the electronics maker’s stock worth $2,900,000 after buying an additional 3,577 shares in the last quarter. Institutional investors own 90.11% of the company’s stock.

Shares of Methode Electronics, Inc. (NYSE:MEI) opened at 39.00 on Friday. The firm’s 50-day moving average is $39.52 and its 200 day moving average is $41.61. Methode Electronics, Inc. has a one year low of $29.85 and a one year high of $46.40. The firm has a market capitalization of $1.43 billion, a P/E ratio of 15.73 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share 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 firm had revenue of $219.70 million during the quarter, compared to analysts’ expectations of $214.39 million. During the same quarter in the previous year, the business earned $0.60 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Methode Electronics, Inc. will post $2.46 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 14th were issued a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Wednesday, July 12th. Methode Electronics’s payout ratio is currently 14.52%.

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MEI has been the topic of a number of analyst reports. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. FBR & Co reiterated an “outperform” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, July 18th. Zacks Investment Research downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, May 9th. B. Riley reiterated a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Friday, June 23rd. Finally, ValuEngine downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus 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.

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

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