Methode Electronics Inc. (MEI) Shares Reduced by Robotti Robert

Methode Electronics Inc. (MEI) Shares Reduced by Robotti Robert

Robotti Robert lowered its stake in shares of Methode Electronics Inc. (NYSE:MEI) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 217,460 shares of the electronics maker’s stock after selling 465 shares during the period. Methode Electronics accounts for about 2.9% of Robotti Robert’s holdings, making the stock its 12th largest position. Robotti Robert’s holdings in Methode Electronics were worth $9,916,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of MEI. Clark Capital Management Group Inc. bought a new position in shares of Methode Electronics during the first quarter valued at $6,901,000. Teachers Advisors LLC increased its position in shares of Methode Electronics by 3.1% in the first quarter. Teachers Advisors LLC now owns 69,172 shares of the electronics maker’s stock valued at $3,154,000 after buying an additional 2,052 shares during the last quarter. Systematic Financial Management LP increased its position in shares of Methode Electronics by 71.2% in the first quarter. Systematic Financial Management LP now owns 241,715 shares of the electronics maker’s stock valued at $11,022,000 after buying an additional 100,500 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Methode Electronics during the first quarter valued at $336,000. Finally, Principal Financial Group Inc. increased its position in shares of Methode Electronics by 3.0% in the first quarter. Principal Financial Group Inc. now owns 290,583 shares of the electronics maker’s stock valued at $13,251,000 after buying an additional 8,371 shares during the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

Methode Electronics Inc. (MEI) remained flat at $40.15 during midday trading on Wednesday. The stock had a trading volume of 217,211 shares. The company’s 50-day moving average price is $41.86 and its 200-day moving average price is $41.78. The firm has a market capitalization of $1.48 billion, a P/E ratio of 16.31 and a beta of 0.94. Methode Electronics Inc. has a 12-month low of $27.88 and a 12-month high of $46.40.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, March 2nd. The electronics maker reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.10. Methode Electronics had a return on equity of 18.22% and a net margin of 10.76%. The company had revenue of $195.60 million during the quarter, compared to analysts’ expectations of $195.23 million. During the same period last year, the business posted $0.45 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, analysts predict that Methode Electronics Inc. will post $2.51 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on MEI. Zacks Investment Research downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. B. Riley restated a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a report on Saturday, March 11th. Finally, FBR & Co restated an “outperform” rating and set a $55.00 price target (up from $50.00) on shares of Methode Electronics in a report on Friday, March 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Methode Electronics has a consensus rating of “Buy” and an average target price of $47.00.

Methode Electronics Company 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “MEI”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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