Bessemer Group Inc. Invests $1.34 Million in Methode Electronics Inc. (MEI) Stock
Bessemer Group Inc. bought a new stake in Methode Electronics Inc. (NYSE:MEI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 33,500 shares of the electronics maker’s stock, valued at approximately $1,343,000.
Other large investors have also bought and sold shares of the company. Crossmark Global Holdings Inc. purchased a new stake in Methode Electronics in the third quarter valued at $287,000. Vanguard Group Inc. raised its position in Methode Electronics by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock valued at $131,612,000 after purchasing an additional 22,852 shares during the period. Royce & Associates LP raised its position in Methode Electronics by 1.4% in the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock valued at $52,095,000 after purchasing an additional 17,443 shares during the period. Northern Trust Corp raised its position in Methode Electronics by 11.8% in the second quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock valued at $22,004,000 after purchasing an additional 56,575 shares during the period. Finally, Prudential Financial Inc. raised its position in Methode Electronics by 91.4% in the third quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock valued at $8,924,000 after purchasing an additional 100,640 shares during the period. Institutional investors own 86.66% of the company’s stock.
Shares of Methode Electronics Inc. (MEI) opened at $39.50 on Thursday. The company has a quick ratio of 3.22, a current ratio of 3.74 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1,510.00, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.01 and a beta of 0.82. Methode Electronics Inc. has a 1-year low of $36.05 and a 1-year high of $48.44.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend was Thursday, January 11th. This is an increase from Methode Electronics’s previous quarterly dividend of $0.09. Methode Electronics’s payout ratio is currently 18.03%.
MEI has been the topic of a number of research analyst reports. B. Riley restated a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Tuesday, December 5th. Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, October 18th. Robert W. Baird restated a “buy” rating and issued a $46.00 target price on shares of Methode Electronics in a research report on Tuesday, October 17th. Finally, ValuEngine downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price of $49.50.
In related news, Director Isabelle C. Goossen sold 2,500 shares of the business’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total value of $101,250.00. Following the sale, the director now owns 40,950 shares in the company, valued at approximately $1,658,475. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Elias Khoury sold 21,400 shares of the business’s stock in a transaction on Friday, December 21st. The shares were sold at an average price of $40.30, for a total value of $862,420.00. Following the completion of the sale, the vice president now owns 267,200 shares in the company, valued at approximately $10,768,160. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by insiders.
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Methode Electronics Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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