Federated Hermes Inc. Acquires Shares of 70,522 Methode Electronics, Inc. (NYSE:MEI)

Federated Hermes Inc. bought a new position in Methode Electronics, Inc. (NYSE:MEI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 70,522 shares of the electronics maker's stock, valued at approximately $1,603,000. Federated Hermes Inc. owned approximately 0.20% of Methode Electronics as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of MEI. CWM LLC increased its holdings in Methode Electronics by 503.2% in the 3rd quarter. CWM LLC now owns 1,689 shares of the electronics maker's stock worth $39,000 after purchasing an additional 1,409 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Methode Electronics in the third quarter valued at about $476,000. Verdence Capital Advisors LLC acquired a new stake in shares of Methode Electronics in the third quarter valued at about $208,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Methode Electronics by 31.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,956 shares of the electronics maker's stock valued at $182,000 after buying an additional 1,899 shares during the period. Finally, Duality Advisers LP increased its stake in shares of Methode Electronics by 51.3% in the third quarter. Duality Advisers LP now owns 22,017 shares of the electronics maker's stock valued at $503,000 after buying an additional 7,463 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group assumed coverage on Methode Electronics in a research note on Tuesday, April 9th. They issued a "hold" rating and a $12.00 price target for the company. Sidoti reissued a "neutral" rating and issued a $17.00 price target on shares of Methode Electronics in a research note on Thursday, March 7th.

Methode Electronics Trading Down 3.2 %

NYSE MEI traded down $0.40 during trading hours on Tuesday, hitting $12.20. 278,685 shares of the company's stock were exchanged, compared to its average volume of 506,511. The stock has a 50-day simple moving average of $14.48 and a 200 day simple moving average of $19.65. Methode Electronics, Inc. has a 1-year low of $11.09 and a 1-year high of $46.58. The firm has a market cap of $431.76 million, a price-to-earnings ratio of -7.43 and a beta of 0.86. The company has a current ratio of 2.74, a quick ratio of 1.85 and a debt-to-equity ratio of 0.40.

Methode Electronics (NYSE:MEI - Get Free Report) last released its earnings results on Thursday, March 7th. The electronics maker reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.40). The business had revenue of $259.50 million for the quarter, compared to analyst estimates of $288.50 million. Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. During the same period in the prior year, the business earned $0.54 EPS. On average, equities analysts forecast that Methode Electronics, Inc. will post -0.41 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.56 annualized dividend and a yield of 4.59%. Methode Electronics's payout ratio is currently -34.15%.

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.