Methode Electronics, Inc. (NYSE:MEI) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its stake in Methode Electronics, Inc. (NYSE:MEI) by 29.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 335,131 shares of the electronics maker’s stock after acquiring an additional 76,391 shares during the period. American Century Companies Inc. owned approximately 0.95% of Methode Electronics worth $3,469,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Methode Electronics by 0.7% in the first quarter. Vanguard Group Inc. now owns 4,679,605 shares of the electronics maker’s stock valued at $56,998,000 after buying an additional 30,994 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Methode Electronics by 13.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 554,904 shares of the electronics maker’s stock valued at $12,613,000 after buying an additional 64,055 shares during the last quarter. Bridge City Capital LLC increased its holdings in Methode Electronics by 57.7% in the first quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock valued at $2,992,000 after buying an additional 89,902 shares during the last quarter. Nordea Investment Management AB increased its holdings in Methode Electronics by 58.8% in the first quarter. Nordea Investment Management AB now owns 224,600 shares of the electronics maker’s stock valued at $2,700,000 after buying an additional 83,151 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Methode Electronics by 222.6% in the first quarter. BNP Paribas Financial Markets now owns 220,932 shares of the electronics maker’s stock valued at $2,691,000 after buying an additional 152,446 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

Shares of MEI stock opened at $12.25 on Friday. The stock’s 50-day moving average is $11.01 and its two-hundred day moving average is $11.40. The firm has a market cap of $433.53 million, a price-to-earnings ratio of -3.51 and a beta of 0.72. Methode Electronics, Inc. has a 1 year low of $8.54 and a 1 year high of $26.02. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data 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 firm had revenue of $258.50 million for the quarter, compared to analysts’ expectations of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same period in the previous year, the business posted $0.06 EPS. Analysts predict that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders 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 4.57%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics’s payout ratio is -16.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MEI shares. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird dropped their target price on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 6th.

Insider Buying and Selling

In related news, Director Mary A. Lindsey purchased 8,800 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Mary A. Lindsey purchased 8,800 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were purchased at an average price of $11.38 per share, with a total value of $100,144.00. Following the completion of the acquisition, the director now directly owns 25,970 shares in the company, valued at approximately $295,538.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David P. Blom purchased 9,320 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were bought at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the acquisition, the director now owns 37,531 shares of the company’s stock, valued at $405,710.11. The disclosure for this purchase can be found here. Corporate insiders own 4.80% of the company’s stock.

Methode Electronics 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.