Towle & Co. Has $7.80 Million Stake in Methode Electronics, Inc. $MEI

Towle & Co. grew its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 8.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,033,223 shares of the electronics maker’s stock after purchasing an additional 77,302 shares during the period. Methode Electronics comprises approximately 2.0% of Towle & Co.’s portfolio, making the stock its 29th biggest position. Towle & Co. owned about 2.93% of Methode Electronics worth $7,801,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of Methode Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock valued at $812,000 after buying an additional 9,787 shares during the last quarter. Strs Ohio purchased a new stake in Methode Electronics in the 1st quarter valued at $133,000. CWM LLC raised its position in Methode Electronics by 100.8% in the 2nd quarter. CWM LLC now owns 43,031 shares of the electronics maker’s stock valued at $409,000 after buying an additional 21,603 shares during the last quarter. AlphaQuest LLC lifted its stake in Methode Electronics by 52.3% during the 2nd quarter. AlphaQuest LLC now owns 28,598 shares of the electronics maker’s stock valued at $272,000 after acquiring an additional 9,817 shares in the last quarter. Finally, Aviance Capital Partners LLC boosted its holdings in Methode Electronics by 19.1% during the 2nd quarter. Aviance Capital Partners LLC now owns 194,257 shares of the electronics maker’s stock worth $1,847,000 after acquiring an additional 31,095 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MEI has been the subject of several analyst reports. Robert W. Baird set a $8.50 target price on shares of Methode Electronics in a report on Wednesday, January 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.25.

Methode Electronics Price Performance

MEI opened at $8.76 on Friday. Methode Electronics, Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $11.74. The firm has a 50-day moving average of $7.62 and a 200 day moving average of $7.39. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 2.55. The firm has a market cap of $310.17 million, a P/E ratio of -4.92 and a beta of 1.08.

Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, December 3rd. The electronics maker reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.10%. The firm had revenue of $246.90 million for the quarter, compared to analysts’ expectations of $237.69 million. On average, research analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were paid a $0.05 dividend. The ex-dividend date was Friday, January 16th. This represents a $0.20 annualized dividend and a yield of 2.3%. Methode Electronics’s dividend payout ratio is presently -11.24%.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.