Bank of Montreal Can cut its holdings in Methode Electronics Inc. (NYSE:MEI) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,353 shares of the electronics maker’s stock after selling 3,340 shares during the quarter. Bank of Montreal Can’s holdings in Methode Electronics were worth $1,578,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Crossmark Global Holdings Inc. purchased a new stake in Methode Electronics in the third quarter valued at about $287,000. Vanguard Group Inc. raised its stake in Methode Electronics by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock valued at $131,612,000 after buying an additional 22,852 shares during the last quarter. Royce & Associates LP raised its stake in Methode Electronics by 1.4% in the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock valued at $52,095,000 after buying an additional 17,443 shares during the last quarter. Northern Trust Corp raised its stake in Methode Electronics by 11.8% in the second quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock valued at $22,004,000 after buying an additional 56,575 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Methode Electronics by 91.4% in the third quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock valued at $8,924,000 after buying an additional 100,640 shares during the last quarter. Institutional investors own 87.17% of the company’s stock.

Methode Electronics Inc. (MEI) opened at $38.85 on Thursday. The company has a quick ratio of 3.22, a current ratio of 3.74 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1,480.00, a PE ratio of 15.92, a PEG ratio of 0.99 and a beta of 0.82. Methode Electronics Inc. has a 1-year low of $36.05 and a 1-year high of $48.44.

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 analysts’ consensus estimates of $0.64. The business had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The company’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. sell-side analysts anticipate that Methode Electronics Inc. will post 2.58 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 12th were issued a $0.11 dividend. The ex-dividend date of this dividend was Thursday, January 11th. This is a positive change 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 1.13%. Methode Electronics’s dividend payout ratio is currently 18.03%.

A number of research firms have commented on MEI. B. Riley reiterated a “buy” rating on shares of Methode Electronics in a research note on Wednesday, November 1st. ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, December 7th. Finally, Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “strong-buy” rating and set a $54.00 price target for the company in a research note on Tuesday, November 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. Methode Electronics currently has a consensus rating of “Hold” and a consensus price target of $49.50.

In other news, VP Joseph Elias Khoury sold 21,400 shares of the stock in a transaction dated Thursday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the transaction, the vice president now directly owns 267,200 shares of the company’s stock, valued at $10,768,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Isabelle C. Goossen sold 2,500 shares of the stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the transaction, the director now directly owns 40,950 shares in the company, valued at $1,658,475. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by corporate insiders.

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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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