Principal Financial Group Inc. trimmed its position in Methode Electronics, Inc. (NYSE:MEI – Get Rating) by 3.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 227,565 shares of the electronics maker’s stock after selling 7,074 shares during the period. Principal Financial Group Inc. owned 0.63% of Methode Electronics worth $10,097,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of MEI. Point72 Hong Kong Ltd acquired a new position in Methode Electronics in the second quarter valued at approximately $99,000. Tower Research Capital LLC TRC boosted its stake in Methode Electronics by 52.1% in the third quarter. Tower Research Capital LLC TRC now owns 3,219 shares of the electronics maker’s stock valued at $120,000 after acquiring an additional 1,103 shares during the period. Captrust Financial Advisors boosted its stake in Methode Electronics by 9.7% in the second quarter. Captrust Financial Advisors now owns 4,195 shares of the electronics maker’s stock valued at $155,000 after acquiring an additional 371 shares during the period. UBS Group AG boosted its stake in Methode Electronics by 117.5% in the third quarter. UBS Group AG now owns 4,917 shares of the electronics maker’s stock valued at $182,000 after acquiring an additional 2,656 shares during the period. Finally, Commonwealth Equity Services LLC acquired a new position in Methode Electronics in the fourth quarter valued at approximately $208,000. 95.93% of the stock is currently owned by institutional investors and hedge funds.
Methode Electronics Trading Up 2.7 %
NYSE MEI opened at $43.85 on Friday. Methode Electronics, Inc. has a twelve month low of $33.91 and a twelve month high of $51.38. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.60 and a current ratio of 3.51. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 19.07 and a beta of 1.12. The firm’s 50 day moving average price is $41.84 and its two-hundred day moving average price is $44.83.
Methode Electronics Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, April 14th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend was Thursday, April 13th. Methode Electronics’s dividend payout ratio is currently 24.35%.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on MEI shares. Robert W. Baird dropped their price target on Methode Electronics from $52.00 to $49.00 in a report on Monday, March 13th. StockNews.com cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Monday, May 22nd.
About Methode Electronics
Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.
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