Methode Electronics Inc. (MEI) Shares Bought by First National Bank of Omaha
First National Bank of Omaha raised its holdings in shares of Methode Electronics Inc. (NYSE:MEI) by 6.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 75,065 shares of the electronics maker’s stock after buying an additional 4,360 shares during the quarter. First National Bank of Omaha’s holdings in Methode Electronics were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in shares of Methode Electronics during the third quarter worth approximately $287,000. Vanguard Group Inc. lifted its holdings in shares of Methode Electronics by 0.7% during the second quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock worth $131,612,000 after buying an additional 22,852 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of Methode Electronics by 1.4% during the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock worth $52,095,000 after buying an additional 17,443 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Methode Electronics by 11.8% during the second quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock worth $22,004,000 after buying an additional 56,575 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Methode Electronics by 91.4% during the third quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock worth $8,924,000 after buying an additional 100,640 shares during the last quarter. Institutional investors own 86.66% of the company’s stock.
A number of brokerages have recently commented on MEI. 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 reiterated 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 reiterated a “buy” rating and set a $46.00 price target on shares of Methode Electronics in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $49.50.
Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.64. The business had revenue of $230.10 million for the quarter, compared to analysts’ expectations of $218.03 million. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. Methode Electronics’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.66 earnings per share. analysts predict that Methode Electronics Inc. will post 2.58 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, January 11th. This is a boost from Methode Electronics’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.16%. Methode Electronics’s payout ratio is currently 18.03%.
In other news, Director Isabelle C. Goossen sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total transaction of $101,250.00. Following the sale, the director now directly owns 40,950 shares in the company, valued at $1,658,475. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $40.30, for a total value of $862,420.00. Following the sale, the vice president now owns 267,200 shares in the company, valued at $10,768,160. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.
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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