Rice Hall James & Associates LLC reduced its position in Methode Electronics, Inc. (NYSE:MEI) by 4.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 382,127 shares of the electronics maker’s stock after selling 18,619 shares during the period. Rice Hall James & Associates LLC owned 1.04% of Methode Electronics worth $16,183,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEI. Victory Capital Management Inc. increased its stake in shares of Methode Electronics by 9.4% in the 1st quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock valued at $138,000 after buying an additional 260 shares during the period. OppenheimerFunds Inc. grew its stake in shares of Methode Electronics by 17.8% during the first quarter. OppenheimerFunds Inc. now owns 13,823 shares of the electronics maker’s stock worth $631,000 after purchasing an additional 2,084 shares during the period. Wellington Management Group LLP acquired a new stake in shares of Methode Electronics during the first quarter worth $336,000. Teachers Advisors LLC grew its stake in shares of Methode Electronics by 3.1% during the first quarter. Teachers Advisors LLC now owns 69,172 shares of the electronics maker’s stock worth $3,154,000 after purchasing an additional 2,052 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Methode Electronics by 4.3% during the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after purchasing an additional 131,039 shares during the period. 89.61% of the stock is owned by institutional investors.

TRADEMARK VIOLATION NOTICE: “Rice Hall James & Associates LLC Lowers Stake in Methode Electronics, Inc. (MEI)” was first published by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://theolympiareport.com/2017/11/02/rice-hall-james-associates-llc-lowers-stake-in-methode-electronics-inc-mei.html.

A number of equities research analysts recently commented on MEI shares. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research note on Thursday, August 31st. Zacks Investment Research raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. Robert W. Baird reaffirmed a “buy” rating and set a $47.00 price objective on shares of Methode Electronics in a research note on Sunday, September 24th. ValuEngine raised Methode Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Finally, BidaskClub cut Methode Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $48.50.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. The business had revenue of $201.20 million during the quarter, compared to the consensus estimate of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. Methode Electronics’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were issued a $0.09 dividend. The ex-dividend date of this dividend was Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a yield of 0.77%. Methode Electronics’s payout ratio is 14.63%.

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.

Want to see what other hedge funds are holding MEI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Methode Electronics, Inc. (NYSE:MEI).

Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.