Methode Electronics, Inc. (NYSE:MEI) Position Reduced by Bridge City Capital LLC

Bridge City Capital LLC lessened its holdings in Methode Electronics, Inc. (NYSE:MEI) by 3.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 134,173 shares of the electronics maker’s stock after selling 4,605 shares during the quarter. Methode Electronics accounts for 2.3% of Bridge City Capital LLC’s investment portfolio, making the stock its 3rd biggest position. Bridge City Capital LLC owned 0.35% of Methode Electronics worth $6,603,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MEI. First Trust Advisors LP raised its position in Methode Electronics by 31.3% in the 1st quarter. First Trust Advisors LP now owns 55,130 shares of the electronics maker’s stock worth $1,587,000 after purchasing an additional 13,131 shares during the period. Victory Capital Management Inc. increased its position in shares of Methode Electronics by 47.1% in the first quarter. Victory Capital Management Inc. now owns 57,666 shares of the electronics maker’s stock valued at $2,421,000 after acquiring an additional 18,467 shares during the period. Commonwealth Equity Services LLC purchased a new position in shares of Methode Electronics in the first quarter valued at about $257,000. Rhumbline Advisers increased its position in shares of Methode Electronics by 0.5% in the first quarter. Rhumbline Advisers now owns 127,271 shares of the electronics maker’s stock valued at $5,343,000 after acquiring an additional 598 shares during the period. Finally, Blueshift Asset Management LLC purchased a new position in shares of Methode Electronics in the first quarter valued at about $438,000. Institutional investors own 93.78% of the company’s stock.

In related news, CAO Amit N. Patel sold 1,000 shares of the business’s stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $49.30, for a total transaction of $49,300.00. Following the sale, the chief accounting officer now owns 7,807 shares of the company’s stock, valued at $384,885.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph Elias Khoury sold 9,500 shares of the business’s stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $48.08, for a total transaction of $456,760.00. Following the sale, the chief operating officer now directly owns 439,920 shares in the company, valued at approximately $21,151,353.60. The disclosure for this sale can be found here. Insiders have sold 49,968 shares of company stock worth $2,369,817 in the last quarter. 4.30% of the stock is owned by corporate insiders.

Shares of NYSE MEI traded down $0.63 during midday trading on Tuesday, hitting $42.03. 799 shares of the company traded hands, compared to its average volume of 193,789. Methode Electronics, Inc. has a 12-month low of $23.97 and a 12-month high of $50.19. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.54 and a current ratio of 3.24. The stock has a 50-day moving average price of $45.93 and a 200 day moving average price of $46.04. The firm has a market cap of $1.60 billion, a P/E ratio of 12.51 and a beta of 1.28.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, September 1st. The electronics maker reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.02. Methode Electronics had a net margin of 11.03% and a return on equity of 15.22%. The company had revenue of $287.80 million for the quarter. As a group, equities analysts expect that Methode Electronics, Inc. will post 3.55 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Friday, October 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.33%. The ex-dividend date is Thursday, October 14th. Methode Electronics’s dividend payout ratio is currently 16.72%.

Separately, Robert W. Baird set a $47.97 price objective on shares of Methode Electronics and gave the company a “hold” rating in a research report on Wednesday, July 14th.

Methode Electronics Profile

Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.

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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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