Schwab Charles Investment Management Inc. grew its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 6.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 251,088 shares of the electronics maker’s stock after purchasing an additional 15,662 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.68% of Methode Electronics worth $10,634,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. grew its holdings in shares of Methode Electronics by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock worth $199,000 after buying an additional 49 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Methode Electronics by 0.4% during the second quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock worth $1,345,000 after buying an additional 117 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Methode Electronics by 2.8% during the second quarter. Amalgamated Bank now owns 4,975 shares of the electronics maker’s stock worth $205,000 after buying an additional 134 shares during the last quarter. Acrospire Investment Management LLC grew its holdings in shares of Methode Electronics by 22.2% during the second quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after buying an additional 500 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Methode Electronics by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock worth $147,000 after buying an additional 536 shares during the last quarter. 86.66% of the stock is currently owned by hedge funds and other institutional investors.

In other Methode Electronics news, Director Isabelle C. Goossen sold 2,500 shares of Methode Electronics stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total value of $101,250.00. Following the sale, the director now owns 40,950 shares of the company’s stock, valued at approximately $1,658,475. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.40% of the stock is currently owned by insiders.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, December 21st. ValuEngine lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. B. Riley reissued a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a report on Tuesday, December 5th. Finally, Robert W. Baird reissued a “buy” rating and set a $46.00 price target on shares of Methode Electronics in a report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. Methode Electronics has an average rating of “Hold” and an average price target of $49.50.

Methode Electronics, Inc. (NYSE MEI) opened at $40.10 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.22 and a debt-to-equity ratio of 0.17. Methode Electronics, Inc. has a twelve month low of $36.05 and a twelve month high of $48.44. The stock has a market capitalization of $1,544.58, a PE ratio of 16.43, a P/E/G ratio of 1.04 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The company had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. During the same quarter in the previous year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. analysts expect that Methode Electronics, Inc. will post 2.58 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date of this dividend is Thursday, January 11th. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09. Methode Electronics’s payout ratio is currently 14.75%.

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Methode Electronics Profile

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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