Nordea Investment Management AB Acquires 83,151 Shares of Methode Electronics, Inc. (NYSE:MEI)

Nordea Investment Management AB raised its stake in shares of Methode Electronics, Inc. (NYSE:MEI) by 58.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 224,600 shares of the electronics maker’s stock after buying an additional 83,151 shares during the quarter. Nordea Investment Management AB owned about 0.63% of Methode Electronics worth $2,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Methode Electronics by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 4,671,072 shares of the electronics maker’s stock worth $106,734,000 after acquiring an additional 201,129 shares during the last quarter. BNP Paribas Financial Markets lifted its position in Methode Electronics by 222.6% during the first quarter. BNP Paribas Financial Markets now owns 220,932 shares of the electronics maker’s stock valued at $2,691,000 after purchasing an additional 152,446 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of Methode Electronics in the 4th quarter worth $2,231,000. Bridge City Capital LLC increased its holdings in shares of Methode Electronics by 57.7% in the 1st quarter. Bridge City Capital LLC now owns 245,640 shares of the electronics maker’s stock worth $2,992,000 after buying an additional 89,902 shares during the last quarter. Finally, Heartland Advisors Inc. raised its position in shares of Methode Electronics by 40.4% during the 4th quarter. Heartland Advisors Inc. now owns 256,295 shares of the electronics maker’s stock valued at $6,098,000 after buying an additional 73,715 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group assumed coverage on Methode Electronics in a research note on Tuesday, April 9th. They set a “hold” rating and a $12.00 price objective on the stock.

Methode Electronics Trading Up 3.3 %

MEI stock opened at $9.44 on Thursday. Methode Electronics, Inc. has a twelve month low of $8.54 and a twelve month high of $34.04. The stock has a market capitalization of $334.08 million, a price-to-earnings ratio of -5.76 and a beta of 0.72. The company has a quick ratio of 1.85, a current ratio of 2.74 and a debt-to-equity ratio of 0.40. The firm’s fifty day simple moving average is $10.89 and its two-hundred day simple moving average is $15.16.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, July 12th. This represents a $0.56 annualized dividend and a yield of 5.93%. Methode Electronics’s payout ratio is -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.