Vanguard Discloses 7.9% Stake in Methode Electronics

TL;DR

**Vanguard still owns 7.9% of Methode Electronics, showing continued institutional interest.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended SC 13G/A on February 13, 2024, indicating its ownership of 2,909,873 shares of Methode Electronics Inc. common stock as of December 29, 2023. This represents a 7.9% beneficial ownership stake in the company. This filing is important for investors as it shows a significant institutional investor maintains a substantial position, potentially signaling confidence in Methode Electronics' long-term prospects.

Why It Matters

This filing confirms that a major institutional investor, The Vanguard Group, holds a significant portion of Methode Electronics, which can influence stock stability and investor sentiment.

Risk Assessment

Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for the stock.

Analyst Insight

Investors should note Vanguard's continued significant stake, which suggests a long-term, passive investment strategy. This could be a positive signal for stability but doesn't imply immediate price catalysts.

Key Numbers

• 2,909,873 — Shares Beneficially Owned (Represents the total number of Methode Electronics Inc. common stock shares held by The Vanguard Group.)
• 7.9% — Percentage of Class Owned (Indicates the significant stake The Vanguard Group holds in Methode Electronics Inc., showing substantial institutional investment.)
• December 29, 2023 — Event Date (The specific date when the ownership level triggered the requirement for this filing, providing a snapshot of the holding.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and beneficial owner
• Methode Electronics Inc. (company) — subject company, issuer of securities
• 2,909,873 (dollar_amount) — number of shares beneficially owned
• 7.9% (dollar_amount) — percentage of class beneficially owned
• December 29, 2023 (date) — date of event requiring the filing
• February 13, 2024 (date) — filing date of the SC 13G/A

Forward-Looking Statements

• The Vanguard Group will maintain a significant ownership stake in Methode Electronics Inc. (The Vanguard Group) — high confidence, target: Q2 2024

FAQ

Filing Documents

• tv01446-methodeelectronicsin.htm (SC 13G/A) — 11KB
• 0001104659-24-021457.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Methode Electronics Inc

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 8750 West Bryn Mawr Avenue, Suite 1000 Chicago, IL 60631-3518

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 591520200

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR