State of Alaska Department of Revenue Decreases Stock Holdings in Methode Electronics, Inc. (NYSE:MEI)

State of Alaska Department of Revenue lessened its position in shares of Methode Electronics, Inc. (NYSE:MEIGet Rating) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 25,443 shares of the electronics maker’s stock after selling 2,491 shares during the quarter. State of Alaska Department of Revenue owned about 0.07% of Methode Electronics worth $945,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. New Century Advisors LLC grew its stake in shares of Methode Electronics by 56.4% in the second quarter. New Century Advisors LLC now owns 837 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 302 shares in the last quarter. Texas Permanent School Fund grew its stake in shares of Methode Electronics by 1.2% in the second quarter. Texas Permanent School Fund now owns 26,732 shares of the electronics maker’s stock worth $990,000 after acquiring an additional 310 shares in the last quarter. Citigroup Inc. grew its stake in shares of Methode Electronics by 0.9% in the first quarter. Citigroup Inc. now owns 37,354 shares of the electronics maker’s stock worth $1,616,000 after acquiring an additional 315 shares in the last quarter. QV Investors Inc. grew its stake in shares of Methode Electronics by 6.0% in the third quarter. QV Investors Inc. now owns 5,620 shares of the electronics maker’s stock worth $209,000 after acquiring an additional 320 shares in the last quarter. Finally, Robotti Robert grew its stake in shares of Methode Electronics by 0.3% during the first quarter. Robotti Robert now owns 109,691 shares of the electronics maker’s stock worth $4,744,000 after purchasing an additional 330 shares in the last quarter. Hedge funds and other institutional investors own 95.93% of the company’s stock.

Insider Activity

In related news, Director Brian J. Cadwallader sold 2,200 shares of the firm’s stock in a transaction on Thursday, December 8th. The shares were sold at an average price of $46.80, for a total transaction of $102,960.00. Following the completion of the sale, the director now directly owns 6,800 shares of the company’s stock, valued at approximately $318,240. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Donald W. Duda sold 7,246 shares of Methode Electronics stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $47.17, for a total value of $341,793.82. Following the transaction, the chief executive officer now owns 1,165,055 shares of the company’s stock, valued at approximately $54,955,644.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian J. Cadwallader sold 2,200 shares of Methode Electronics stock in a transaction that occurred on Thursday, December 8th. The stock was sold at an average price of $46.80, for a total transaction of $102,960.00. Following the completion of the transaction, the director now directly owns 6,800 shares in the company, valued at $318,240. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 48,196 shares of company stock valued at $2,286,091. Company insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

MEI has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Methode Electronics in a research report on Tuesday, November 22nd. They issued a “buy” rating and a $52.00 price target for the company. Barrington Research reissued a “market perform” rating on shares of Methode Electronics in a research note on Wednesday, October 5th. Finally, StockNews.com assumed coverage on shares of Methode Electronics in a research note on Wednesday, October 12th. They set a “buy” rating on the stock.

Methode Electronics Stock Performance

NYSE:MEI opened at $46.26 on Monday. The firm’s 50 day moving average is $44.99 and its two-hundred day moving average is $40.93. Methode Electronics, Inc. has a fifty-two week low of $33.91 and a fifty-two week high of $50.39. The company has a quick ratio of 2.28, a current ratio of 3.09 and a debt-to-equity ratio of 0.21. The company has a market cap of $1.67 billion, a P/E ratio of 18.21 and a beta of 1.13.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 27th. Stockholders of record on Friday, January 13th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Thursday, January 12th. Methode Electronics’s dividend payout ratio is presently 22.05%.

Methode Electronics Company Profile

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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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Institutional Ownership by Quarter for Methode Electronics (NYSE:MEI)

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