Methode Electronics (MEI) : Investment Counselors Of Maryland scooped up 101,575 additional shares in Methode Electronics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 682,647 shares of Methode Electronics which is valued at $24,520,680.Methode Electronics makes up approximately 1.28% of Investment Counselors Of Maryland’s portfolio.
Other Hedge Funds, Including , Buckhead Capital Management reduced its stake in MEI by selling 9,292 shares or 23.73% in the most recent quarter. The Hedge Fund company now holds 29,870 shares of MEI which is valued at $1,072,632. Methode Electronics makes up approx 0.19% of Buckhead Capital Management’s portfolio.Mufg Americas Holdings Corp boosted its stake in MEI in the latest quarter, The investment management firm added 326 additional shares and now holds a total of 681 shares of Methode Electronics which is valued at $24,462. Parkside Financial Bank Trust added MEI to its portfolio by purchasing 314 company shares during the most recent quarter which is valued at $10,977. Methode Electronics makes up approx 0.01% of Parkside Financial Bank Trust’s portfolio.Thomson Horstmann Bryant Inc reduced its stake in MEI by selling 12,478 shares or 41.62% in the most recent quarter. The Hedge Fund company now holds 17,502 shares of MEI which is valued at $607,844. Methode Electronics makes up approx 0.08% of Thomson Horstmann Bryant Inc’s portfolio.
Methode Electronics opened for trading at $35.99 and hit $36.38 on the upside on Wednesday, eventually ending the session at $36.16, with a gain of 0.28% or 0.1 points. The heightened volatility saw the trading volume jump to 1,37,494 shares. Company has a market cap of $1,332 M.
On the company’s financial health, Methode Electronics reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Jun 23, 2016. Analyst had a consensus of $0.52. The company had revenue of $212.80 million for the quarter, compared to analysts expectations of $201.54 million. The company’s revenue was down -6.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.68 EPS.
Many Wall Street Analysts have commented on Methode Electronics. Company shares were Upgraded by Robert W. Baird on Jun 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $35 .
Methode Electronics Inc. (Methode) is a global manufacturer of component and subsystem devices. The Company designs manufactures and markets devices employing electrical radio remote control electronic wireless and sensing technologies. It operates through segments including Automotive Interface Power Products and Other. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers. The Interface segment provides a range of copper and fiber-optic interface and interface solutions for the aerospace appliance commercial computer construction consumer material handling medical military mining networking storage and telecommunications markets. The Power Products segment manufactures braided flexible cables and current-carrying laminated bus devices among others. The Other segment includes medical devices inverters and battery systems and insulated gate bipolar transistor solutions.