Principal Financial Group Inc. Sells 8,574 Shares of Methode Electronics, Inc. (NYSE:MEI)

Principal Financial Group Inc. lowered its stake in Methode Electronics, Inc. (NYSE:MEIFree Report) by 4.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 199,388 shares of the electronics maker’s stock after selling 8,574 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Methode Electronics worth $4,556,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new position in Methode Electronics during the 2nd quarter worth about $26,000. Steward Partners Investment Advisory LLC bought a new position in Methode Electronics during the 4th quarter worth about $53,000. Covestor Ltd increased its holdings in Methode Electronics by 38.4% during the 2nd quarter. Covestor Ltd now owns 1,327 shares of the electronics maker’s stock worth $44,000 after purchasing an additional 368 shares in the last quarter. CWM LLC increased its holdings in Methode Electronics by 503.2% during the 3rd quarter. CWM LLC now owns 1,689 shares of the electronics maker’s stock worth $39,000 after purchasing an additional 1,409 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Methode Electronics during the 2nd quarter worth about $99,000. Institutional investors and hedge funds own 89.02% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Methode Electronics from a “hold” rating to a “sell” rating in a report on Friday, December 8th.

Check Out Our Latest Stock Analysis on MEI

Methode Electronics Price Performance

Shares of NYSE MEI opened at $21.06 on Wednesday. The stock has a market capitalization of $749.71 million, a price-to-earnings ratio of -27.35 and a beta of 0.92. The business has a 50-day moving average of $21.88 and a 200-day moving average of $24.89. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.92 and a quick ratio of 2.07. Methode Electronics, Inc. has a fifty-two week low of $20.09 and a fifty-two week high of $50.74.

Methode Electronics (NYSE:MEIGet Free Report) last announced its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $288.00 million during the quarter, compared to the consensus estimate of $284.94 million. Methode Electronics had a negative net margin of 2.28% and a positive return on equity of 3.50%. As a group, sell-side analysts predict that Methode Electronics, Inc. will post 0.27 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were paid a $0.14 dividend. The ex-dividend date was Thursday, January 11th. This represents a $0.56 annualized dividend and a yield of 2.66%. Methode Electronics’s dividend payout ratio (DPR) 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.

Further Reading

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

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