Investment Counselors of Maryland LLC lifted its holdings in shares of Methode Electronics Inc. (NYSE:MEI) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 976,908 shares of the electronics maker’s stock after purchasing an additional 10,899 shares during the period. Methode Electronics accounts for 1.3% of Investment Counselors of Maryland LLC’s holdings, making the stock its 6th biggest holding. Investment Counselors of Maryland LLC owned about 2.64% of Methode Electronics worth $27,910,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pinnacle Associates Ltd. increased its position in shares of Methode Electronics by 24.5% during the second quarter. Pinnacle Associates Ltd. now owns 22,350 shares of the electronics maker’s stock worth $639,000 after acquiring an additional 4,400 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Methode Electronics during the second quarter worth about $38,000. Swiss National Bank increased its position in shares of Methode Electronics by 2.2% during the second quarter. Swiss National Bank now owns 68,900 shares of the electronics maker’s stock worth $1,968,000 after acquiring an additional 1,500 shares in the last quarter. Comerica Bank increased its position in shares of Methode Electronics by 5.2% during the second quarter. Comerica Bank now owns 169,601 shares of the electronics maker’s stock worth $4,827,000 after acquiring an additional 8,321 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Methode Electronics by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 39,206 shares of the electronics maker’s stock worth $1,120,000 after acquiring an additional 979 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.

MEI stock traded up $0.54 during trading on Wednesday, reaching $27.84. The stock had a trading volume of 4,883 shares, compared to its average volume of 179,570. Methode Electronics Inc. has a one year low of $20.99 and a one year high of $41.30. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. The company’s 50 day moving average is $28.21 and its two-hundred day moving average is $28.15. The company has a market capitalization of $986.88 million, a price-to-earnings ratio of 9.32 and a beta of 1.47.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, June 20th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.08). Methode Electronics had a return on equity of 16.20% and a net margin of 9.16%. The firm had revenue of $266.00 million during the quarter, compared to the consensus estimate of $274.36 million. During the same period in the previous year, the company posted $0.98 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. As a group, research analysts predict that Methode Electronics Inc. will post 3.32 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend was Thursday, July 11th. Methode Electronics’s payout ratio is 14.86%.

Separately, Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $40.25.

Methode Electronics Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

Read More: Why is the ex-dividend date different from the record date?

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

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