Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by Federated Hermes Inc.

Federated Hermes Inc. increased its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 128.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,690,878 shares of the electronics maker’s stock after acquiring an additional 949,616 shares during the period. Federated Hermes Inc.’s holdings in Methode Electronics were worth $17,501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in shares of Methode Electronics by 512.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 1,014 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Methode Electronics by 4.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker’s stock worth $328,000 after acquiring an additional 1,163 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Methode Electronics by 6.0% in the second quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker’s stock valued at $233,000 after acquiring an additional 1,281 shares in the last quarter. Quest Partners LLC boosted its holdings in Methode Electronics by 17.1% in the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker’s stock valued at $125,000 after purchasing an additional 1,758 shares during the period. Finally, New York State Teachers Retirement System grew its stake in Methode Electronics by 5.3% during the 1st quarter. New York State Teachers Retirement System now owns 70,162 shares of the electronics maker’s stock worth $855,000 after purchasing an additional 3,554 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Methode Electronics Stock Up 5.5 %

MEI stock opened at $10.57 on Monday. The stock has a market cap of $373.33 million, a P/E ratio of -3.03 and a beta of 0.72. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $26.02. The company’s 50 day moving average is $11.20 and its two-hundred day moving average is $11.79.

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

Methode Electronics Dividend Announcement

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on MEI shares. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird decreased their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Friday, September 6th.

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.