BNP Paribas Arbitrage SA Buys 41,013 Shares of Methode Electronics, Inc. (MEI)

BNP Paribas Arbitrage SA boosted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 543.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 48,566 shares of the electronics maker’s stock after purchasing an additional 41,013 shares during the period. BNP Paribas Arbitrage SA owned about 0.13% of Methode Electronics worth $2,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Strs Ohio increased its stake in shares of Methode Electronics by 83.3% during the first quarter. Strs Ohio now owns 23,100 shares of the electronics maker’s stock worth $1,053,000 after purchasing an additional 10,500 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Methode Electronics by 8.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 10,520 shares of the electronics maker’s stock valued at $478,000 after acquiring an additional 803 shares in the last quarter. Vanguard Group Inc. grew its stake in Methode Electronics by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock valued at $144,624,000 after acquiring an additional 131,039 shares in the last quarter. Geode Capital Management LLC grew its stake in Methode Electronics by 3.5% during the 1st quarter. Geode Capital Management LLC now owns 457,354 shares of the electronics maker’s stock valued at $20,855,000 after acquiring an additional 15,513 shares in the last quarter. Finally, Virginia Retirement Systems ET AL grew its stake in Methode Electronics by 224.3% during the 1st quarter. Virginia Retirement Systems ET AL now owns 48,000 shares of the electronics maker’s stock valued at $2,189,000 after acquiring an additional 33,200 shares in the last quarter. Institutional investors and hedge funds own 90.21% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. BidaskClub lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Robert W. Baird reiterated an “outperform” rating and set a $47.00 target price (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th. FBR & Co reiterated a “buy” rating on shares of Methode Electronics in a report on Thursday, August 31st. Finally, ValuEngine downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Methode Electronics has an average rating of “Hold” and a consensus price target of $48.25.

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Shares of Methode Electronics, Inc. (MEI) traded up 1.15% during mid-day trading on Friday, hitting $39.50. 314,075 shares of the company traded hands. Methode Electronics, Inc. has a 52-week low of $29.85 and a 52-week high of $46.40. The firm has a 50-day moving average price of $38.77 and a 200 day moving average price of $41.27. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of 16.06 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.12. The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Equities research analysts anticipate that Methode Electronics, Inc. will post $2.53 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.91%. Methode Electronics’s payout ratio is 14.63%.

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.

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

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