Several other research firms have also commented on MEI. StockNews.com began covering shares of Method Electronics in a research report on Wednesday, October 12th. They assigned a “buy” rating to the stock. Barrington Research re-rated “Market Performance” on shares of Methode Electronics in a research report on Wednesday, October 5th.
Method Electronics stocks fell 0.9%.
NYSE: MEI opened at $43.72 on Tuesday. The company has a market capitalization of $1.60 billion, a price-earnings ratio of 17.42 and a beta version of 1.13. The company’s 50-day moving average is $39.67 and the 200-day moving average is $40.34. Method Electronics has a one-year low of $33.91 and a one-year high of $49.94. The company’s debt-to-equity ratio is 0.21, the trading ratio is 3.26 and the velocity ratio is 2.38.
Method Electronics (NYSE: MEI – Get Rating) last released its quarterly earnings data on Thursday, September 1st. The electronics company reported earnings of $0.58 per share for the quarter, beating analyst estimates of $0.48 by $0.10. Method Electronics had a return on equity of 10.39% and a net margin of 8.17%. The company generated $282.40 million in revenue for the quarter, compared to analyst estimates of $275.00 million. As a group, equity research analysts expect Methode Electronics to post 2.9 EPS for the current year.
Insiders place their bets
In related news, COO Joseph Elias Khoury sold 12,000 shares of Method Electronics stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $38.50, with a total value of $462,000. After the sale, the operating director now directly owns 384,420 shares of the company, valued at approximately $14,800,170. The transaction was disclosed in a legal filing with the Securities and Exchange Commission, which is available at this link. 4.50% of the shares are currently held by company insiders.
Institutional investors weigh in in Method Electronics
Several institutional investors and hedge funds have recently added to or reduced their stakes in MEI. Massachusetts Financial Services MA boosted its stake in Method Electronics by 69.0% during the first quarter. The Massachusetts Financial Services company now owns 2,210,521 shares of the electronics maker worth $95,605,000 after purchasing an additional 902,737 shares during the last quarter. Polaris Capital Management LLC strengthened its stake in Methode Electronics by 1,847.4% during the second quarter. Polaris Capital Management LLC now owns 669,903 shares of the electronics maker valued at $213,987,000 after purchasing an additional 635,503 shares during the last quarter. Earnest Partners LLC purchased a new stake in Methode Electronics in the first quarter for a value of $10,867,000. FMR LLC increased its stake in Methode Electronics by 6.7% in the second quarter. FMR LLC now owns 2,092,505 shares of the electronics maker valued at $77,507,000 after acquiring an additional 131,474 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its ownership in shares of Methode Electronics by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 2,173,096 shares of the electronics maker valued at $80,732,000 after acquiring an additional 116,978 shares during the period. Institutional investors and hedge funds own 94.03% of the company’s shares.
About Electronics Method
Method Electronics designs, engineers and produces mechatronics products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The automotive segment provides electronic and electromechanical devices and related products to automotive OEMs directly or through their tiered suppliers.
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