New York State Common Retirement Fund cut its position in shares of Methode Electronics Inc. (NYSE:MEI) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 35,400 shares of the electronics maker’s stock after selling 3,183 shares during the period. New York State Common Retirement Fund’s holdings in Methode Electronics were worth $1,019,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mason Street Advisors LLC raised its stake in shares of Methode Electronics by 3.4% during the 1st quarter. Mason Street Advisors LLC now owns 11,879 shares of the electronics maker’s stock worth $342,000 after purchasing an additional 393 shares in the last quarter. Private Capital Group LLC raised its stake in shares of Methode Electronics by 155.2% during the 1st quarter. Private Capital Group LLC now owns 906 shares of the electronics maker’s stock worth $26,000 after purchasing an additional 551 shares in the last quarter. Chartwell Investment Partners LLC raised its stake in shares of Methode Electronics by 0.8% during the 1st quarter. Chartwell Investment Partners LLC now owns 75,078 shares of the electronics maker’s stock worth $2,161,000 after purchasing an additional 615 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Methode Electronics by 1.5% during the 4th quarter. First Trust Advisors LP now owns 41,999 shares of the electronics maker’s stock worth $978,000 after purchasing an additional 623 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Methode Electronics by 6.6% during the 1st quarter. Janus Henderson Group PLC now owns 13,099 shares of the electronics maker’s stock worth $377,000 after purchasing an additional 814 shares in the last quarter. 92.38% of the stock is owned by institutional investors.

MEI opened at $26.08 on Friday. Methode Electronics Inc. has a fifty-two week low of $20.99 and a fifty-two week high of $45.45. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.53 and a quick ratio of 1.83. The stock has a market cap of $964.59 million, a PE ratio of 8.18 and a beta of 1.49.

In related news, CAO Amit N. Patel acquired 1,021 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were acquired at an average cost of $27.54 per share, with a total value of $28,118.34. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. 3.40% of the stock is owned by company insiders.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “sell” rating in a research note on Saturday. Craig Hallum raised Methode Electronics from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $42.00 in a research note on Friday, March 8th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $40.25.

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Methode Electronics Company Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers 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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