New York State Teachers Retirement System cut its position in shares of Methode Electronics, Inc. (NYSE:MEI – Free Report) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,412 shares of the electronics maker’s stock after selling 5,989 shares during the period. New York State Teachers Retirement System owned 0.21% of Methode Electronics worth $1,746,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MEI. Citigroup Inc. lifted its holdings in Methode Electronics by 0.9% during the first quarter. Citigroup Inc. now owns 37,354 shares of the electronics maker’s stock valued at $1,616,000 after purchasing an additional 315 shares in the last quarter. MetLife Investment Management LLC lifted its stake in shares of Methode Electronics by 52.1% in the first quarter. MetLife Investment Management LLC now owns 19,668 shares of the electronics maker’s stock worth $851,000 after buying an additional 6,738 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Methode Electronics by 1.7% in the first quarter. Rhumbline Advisers now owns 116,858 shares of the electronics maker’s stock worth $5,054,000 after buying an additional 1,938 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Methode Electronics by 11.4% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,129 shares of the electronics maker’s stock worth $1,390,000 after buying an additional 3,279 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Methode Electronics by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,026,836 shares of the electronics maker’s stock worth $87,660,000 after buying an additional 46,480 shares in the last quarter. 89.02% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Friday, December 8th.

Check Out Our Latest Research Report on MEI

Methode Electronics Stock Performance

NYSE:MEI opened at $20.31 on Thursday. The company’s 50-day moving average price is $22.57 and its 200-day moving average price is $26.12. The company has a current ratio of 2.92, a quick ratio of 2.07 and a debt-to-equity ratio of 0.39. The company has a market cap of $723.02 million, a P/E ratio of -26.38 and a beta of 0.94. Methode Electronics, Inc. has a twelve month low of $20.09 and a twelve month high of $51.38.

Methode Electronics (NYSE:MEI – Get Free Report) last released its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Methode Electronics had a positive return on equity of 3.50% and a negative net margin of 2.28%. The firm had revenue of $288.00 million for the quarter, compared to analyst estimates of $284.94 million. On average, sell-side analysts forecast that Methode Electronics, Inc. will post 0.27 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.76%. The ex-dividend date is Thursday, January 11th. Methode Electronics’s payout ratio is currently -72.73%.

About Methode Electronics

(Free Report)

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.

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