Methode Electronics, Inc. (MEI) Position Trimmed by WBI Investments Inc.

WBI Investments Inc. reduced its position in Methode Electronics, Inc. (NYSE:MEI) by 20.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 25,811 shares of the electronics maker’s stock after selling 6,639 shares during the period. WBI Investments Inc. owned about 0.07% of Methode Electronics worth $1,063,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Miles Capital Inc. raised its holdings in Methode Electronics by 0.3% in the 1st quarter. Miles Capital Inc. now owns 6,391 shares of the electronics maker’s stock worth $291,000 after acquiring an additional 17 shares during the last quarter. Alps Advisors Inc. raised its holdings in Methode Electronics by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock worth $447,000 after acquiring an additional 28 shares during the last quarter. US Bancorp DE raised its holdings in Methode Electronics by 0.3% in the 1st quarter. US Bancorp DE now owns 24,691 shares of the electronics maker’s stock worth $1,126,000 after acquiring an additional 64 shares during the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Methode Electronics by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock worth $130,000 after acquiring an additional 90 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in Methode Electronics by 0.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock worth $1,345,000 after purchasing an additional 117 shares during the period. Institutional investors own 90.21% of the company’s stock.

Shares of Methode Electronics, Inc. (MEI) opened at 39.05 on Friday. The firm has a 50-day moving average of $38.79 and a 200-day moving average of $41.29. Methode Electronics, Inc. has a 52-week low of $29.85 and a 52-week high of $46.40. The company has a market cap of $1.44 billion, a P/E ratio of 15.87 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, August 31st. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.12. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The business had revenue of $201.20 million during the quarter, compared to analysts’ expectations of $189.40 million. During the same quarter last year, the company posted $0.57 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Equities research analysts forecast that Methode Electronics, Inc. will post $2.53 earnings per share for the current year.

MEI has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $47.00 target price (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. B. Riley reaffirmed a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Friday, June 23rd. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, FBR & Co reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $48.25.

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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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