California State Teachers Retirement System Lowers Position in Methode Electronics, Inc. (NYSE:MEI)

California State Teachers Retirement System reduced its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 91.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,577 shares of the electronics maker's stock after selling 29,210 shares during the quarter. California State Teachers Retirement System's holdings in Methode Electronics were worth $30,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Methode Electronics by 8.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,139 shares of the electronics maker's stock worth $237,000 after purchasing an additional 1,513 shares during the period. Quarry LP purchased a new stake in Methode Electronics in the fourth quarter worth $32,000. Aviance Capital Partners LLC increased its stake in Methode Electronics by 5.2% in the fourth quarter. Aviance Capital Partners LLC now owns 56,594 shares of the electronics maker's stock worth $667,000 after purchasing an additional 2,781 shares during the period. AlphaQuest LLC increased its stake in Methode Electronics by 196.8% in the fourth quarter. AlphaQuest LLC now owns 4,509 shares of the electronics maker's stock worth $53,000 after purchasing an additional 2,990 shares during the period. Finally, Virtus Fund Advisers LLC purchased a new stake in Methode Electronics in the fourth quarter worth $38,000. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Stock Down 1.8%

NYSE MEI traded down $0.16 during trading on Friday, hitting $8.84. The company's stock had a trading volume of 337,518 shares, compared to its average volume of 471,320. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. The company has a market cap of $315.51 million, a PE ratio of -3.49 and a beta of 0.97. The business's 50 day simple moving average is $7.04 and its 200-day simple moving average is $9.15. Methode Electronics, Inc. has a fifty-two week low of $5.08 and a fifty-two week high of $17.45.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Friday, April 18th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.33%. The ex-dividend date was Thursday, April 17th. Methode Electronics's dividend payout ratio is currently -21.46%.

Analysts Set New Price Targets

MEI has been the topic of a number of recent analyst reports. Sidoti upgraded Methode Electronics from a "neutral" rating to a "buy" rating and set a $14.00 target price on the stock in a research note on Tuesday, February 25th. Robert W. Baird dropped their price target on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th.

Methode Electronics Company Profile

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.