262,646 Shares in Methode Electronics, Inc. $MEI Purchased by Deutsche Bank AG

Key Points

• Deutsche Bank acquired 262,646 shares of Methode Electronics in the second quarter, worth approximately $4.98 million and representing about 0.74% of the company. Institutional investors collectively own 95.49% of the stock.
• Analyst opinions remain mixed, with two Buy, three Hold, and one Sell rating; the consensus is Hold with a $22.00 price target.
• Methode reported quarterly revenue of $298.1 million but missed earnings expectations with an EPS loss of $0.30 versus the $0.11 loss analysts expected. The company continues to pay a quarterly dividend of $0.05, equivalent to a 1.2% annual yield.

Deutsche Bank AG acquired a new stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 262,646 shares of the electronics maker's stock, valued at approximately $4,982,000. Deutsche Bank AG owned about 0.74% of Methode Electronics at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its holdings in Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker's stock valued at $29,000 after acquiring an additional 2,815 shares during the last quarter. XTX Topco Ltd purchased a new stake in shares of Methode Electronics during the 2nd quarter worth about $107,000. GSA Capital Partners LLP purchased a new stake in shares of Methode Electronics during the 2nd quarter worth about $226,000. Mackenzie Financial Corp acquired a new stake in Methode Electronics during the 3rd quarter worth approximately $103,000. Finally, Inscription Capital LLC acquired a new stake in Methode Electronics during the 4th quarter worth approximately $112,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MEI. Barrington Research raised shares of Methode Electronics from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a research report on Monday, June 29th. Craig Hallum started coverage on shares of Methode Electronics in a report on Tuesday. They set a "buy" rating and a $30.00 target price on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Methode Electronics in a report on Friday, July 17th. Sidoti reissued a "neutral" rating and issued a $17.00 price objective on shares of Methode Electronics in a research report on Friday, June 26th. Finally, Robert W. Baird boosted their price objective on Methode Electronics from $8.50 to $16.00 and gave the stock a "neutral" rating in a research note on Friday, June 26th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Methode Electronics currently has a consensus rating of "Hold" and a consensus price target of $22.00.

Methode Electronics Trading Up 14.2%

NYSE:MEI opened at $16.03 on Wednesday. The company has a market cap of $568.51 million, a PE ratio of -15.87 and a beta of 1.50. The business's 50 day moving average is $15.66 and its two-hundred day moving average is $11.02. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. Methode Electronics, Inc. has a 52 week low of $4.88 and a 52 week high of $20.38.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. The business had revenue of $298.10 million during the quarter, compared to analyst estimates of $238.46 million. On average, analysts predict that Methode Electronics, Inc. will post -0.95 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics's dividend payout ratio (DPR) is -19.80%.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company's product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.

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