Methode Electronics, Inc. (NYSE:MEI) Position Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Methode Electronics, Inc. (NYSE:MEI) by 21.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 380,576 shares of the electronics maker’s stock after selling 102,599 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.08% of Methode Electronics worth $3,939,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its holdings in Methode Electronics by 512.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after acquiring an additional 1,014 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Methode Electronics by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock worth $328,000 after buying an additional 1,163 shares during the last quarter. SummerHaven Investment Management LLC increased its position in Methode Electronics by 6.0% in the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock worth $233,000 after buying an additional 1,281 shares during the period. New York State Teachers Retirement System lifted its stake in Methode Electronics by 5.3% in the first quarter. New York State Teachers Retirement System now owns 70,162 shares of the electronics maker’s stock valued at $855,000 after buying an additional 3,554 shares during the last quarter. Finally, Aviance Capital Partners LLC boosted its holdings in shares of Methode Electronics by 13.5% during the first quarter. Aviance Capital Partners LLC now owns 30,248 shares of the electronics maker’s stock valued at $368,000 after acquiring an additional 3,593 shares during the period. Institutional investors and hedge funds own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MEI. Robert W. Baird dropped their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

Methode Electronics Price Performance

Shares of NYSE MEI opened at $10.57 on Friday. Methode Electronics, Inc. has a fifty-two week low of $8.54 and a fifty-two week high of $26.02. The stock has a market cap of $373.33 million, a P/E ratio of -3.03 and a beta of 0.72. The firm’s 50-day simple moving average is $11.20 and its 200 day simple moving average is $11.85. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The firm had revenue of $258.50 million during the quarter, compared to the consensus estimate of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period in the prior year, the firm posted $0.06 EPS. Equities analysts expect that Methode Electronics, Inc. will post -0.62 EPS for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be issued a $0.14 dividend. The ex-dividend date is Friday, October 18th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.30%. Methode Electronics’s payout ratio is currently -16.05%.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.