Hotchkis & Wiley Capital Management LLC Acquires 349,890 Shares of Methode Electronics, Inc. $MEI

Key Points

• Hotchkis & Wiley Capital Management LLC increased its stake in Methode Electronics, Inc. by 29.1%, owning 1,553,250 shares worth approximately $9.91 million.
• Wall Street analysts have downgraded Methode Electronics from a "hold" rating to a "sell" rating, and the company has an average rating of "Moderate Buy" with a consensus price target of $10.50.
• Methode Electronics reported a loss of ($0.77) per share, which missed the consensus estimate, and announced a quarterly dividend of $0.07, representing a dividend yield of 3.7%.

Hotchkis & Wiley Capital Management LLC lifted its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 29.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,553,250 shares of the electronics maker's stock after purchasing an additional 349,890 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 4.35% of Methode Electronics worth $9,910,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MEI. Wells Fargo & Company MN grew its stake in shares of Methode Electronics by 25.9% in the 4th quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker's stock worth $262,000 after purchasing an additional 4,574 shares during the last quarter. Barclays PLC grew its stake in shares of Methode Electronics by 42.1% in the 4th quarter. Barclays PLC now owns 181,716 shares of the electronics maker's stock worth $2,143,000 after purchasing an additional 53,799 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Methode Electronics by 284.6% in the 4th quarter. Hsbc Holdings PLC now owns 128,323 shares of the electronics maker's stock worth $1,491,000 after purchasing an additional 94,956 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Methode Electronics by 30.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 43,763 shares of the electronics maker's stock worth $516,000 after purchasing an additional 10,283 shares during the last quarter. Finally, Quarry LP acquired a new position in shares of Methode Electronics in the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Methode Electronics Stock Down 0.9%

Shares of MEI stock traded down $0.07 during trading on Friday, hitting $7.73. 248,499 shares of the company were exchanged, compared to its average volume of 410,421. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.57 and a current ratio of 2.40. The firm has a market capitalization of $272.17 million, a price-to-earnings ratio of -4.34 and a beta of 1.04. The business's 50-day simple moving average is $7.57 and its 200 day simple moving average is $7.56. Methode Electronics, Inc. has a twelve month low of $5.08 and a twelve month high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings results on Wednesday, July 9th. The electronics maker reported ($0.77) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.80). The company had revenue of $257.10 million for the quarter, compared to analyst estimates of $228.75 million. Methode Electronics had a negative return on equity of 5.60% and a negative net margin of 5.97%.During the same quarter in the prior year, the business posted ($0.23) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. As a group, analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Monday, July 21st were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, July 21st. Methode Electronics's dividend payout ratio (DPR) is currently -15.73%.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $10.50.

Methode Electronics 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.