FMR LLC & Abigail Johnson Maintain 14.41% Stake in Methode Electronics
Ticker: MEI · Form: SC 13G/A · Filed: Feb 9, 2024 · CIK: 65270
| Field | Detail |
|---|---|
| Company | Methode Electronics Inc (MEI) |
| Form Type | SC 13G/A |
| Filed Date | Feb 9, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**FMR LLC and Abigail Johnson still own 14.41% of Methode Electronics, signaling continued institutional confidence.**
AI Summary
FMR LLC, a major investment firm, and its CEO, Abigail P. Johnson, have updated their ownership stake in Methode Electronics Inc. As of February 9, 2024, they collectively beneficially own 5,129,211 shares, representing 14.408% of the company's common stock. This filing, an amendment to a previous SC 13G, indicates a significant, stable institutional holding, which can be a positive signal for investors as it suggests long-term confidence from a large fund.
Why It Matters
This filing shows that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, continue to hold a substantial portion of Methode Electronics, which can reassure current and potential shareholders about the company's stability and long-term prospects.
Risk Assessment
Risk Level: low — The filing indicates a stable, significant institutional ownership, which generally reduces risk by providing a strong base of support for the company.
Analyst Insight
Investors should note the continued significant institutional ownership by FMR LLC, which suggests a stable long-term view from a major fund. This could be a positive indicator, but further research into Methode Electronics' fundamentals and FMR LLC's investment thesis would be prudent.
Key Numbers
- 5,129,211 — Shares Beneficially Owned (Total common stock shares of Methode Electronics Inc held by FMR LLC and Abigail P. Johnson.)
- 14.408% — Percent of Class (The percentage of Methode Electronics Inc's common stock owned by FMR LLC and Abigail P. Johnson.)
- 20240209 — Filing Date (The date this SC 13G/A amendment was filed, indicating the recency of the reported ownership.)
Key Players & Entities
- FMR LLC (company) — reporting person and parent holding company
- Abigail P. Johnson (person) — reporting person, associated with FMR LLC
- METHODE ELECTRONICS INC (company) — the issuer of the securities
- 5,129,211 (dollar_amount) — total shares beneficially owned
- 14.408% (dollar_amount) — percentage of class beneficially owned
Forward-Looking Statements
- FMR LLC will maintain a significant ownership stake in Methode Electronics Inc. (FMR LLC) — high confidence, target: next 12 months
FAQ
Who are the primary reporting persons in this SC 13G/A filing?
The primary reporting persons are FMR LLC and Abigail P. Johnson, as stated in Item 1 of the filing for each reporting person.
What is the total number of common stock shares of Methode Electronics Inc beneficially owned by the reporting persons?
The total number of common stock shares beneficially owned by the reporting persons is 5,129,211, as indicated in Item 7 and Item 9 for both FMR LLC and Abigail P. Johnson, and Item 4(a) for FMR LLC.
What percentage of Methode Electronics Inc's common stock do FMR LLC and Abigail P. Johnson collectively own?
FMR LLC and Abigail P. Johnson collectively own 14.408% of Methode Electronics Inc's common stock, as stated in Item 11 for both reporting persons and Item 4(b) for FMR LLC.
Under which rule is this Schedule 13G filed?
This Schedule 13G is filed pursuant to Rule 13d-1(b), as indicated by the checked box on the cover page and in Item 3 of the filing.
What is the CUSIP number for Methode Electronics Inc's common stock?
The CUSIP number for Methode Electronics Inc's common stock is 591520200, as listed on the cover page and in Item 2(e) of the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on February 9, 2024 by Abigail P. Johnson regarding METHODE ELECTRONICS INC (MEI).