American Century Companies Inc. Purchases 72,320 Shares of Methode Electronics, Inc. $MEI

Key Points

• American Century Companies Inc. increased its stake in Methode Electronics by 13.5% during the first quarter, owning 609,428 shares valued at approximately $3.89 million.
• Methode Electronics reported a significant earnings miss with a loss of $0.77 per share, while its revenue reached $257.10 million, exceeding analyst estimates.
• The stock's rating was upgraded from "sell" to "hold" by Wall Street Zen, and the average price target for the stock stands at $10.50.

American Century Companies Inc. lifted its position in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 13.5% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 609,428 shares of the electronics maker's stock after buying an additional 72,320 shares during the period. American Century Companies Inc. owned approximately 1.71% of Methode Electronics worth $3,888,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MEI. Wells Fargo & Company MN raised its position in Methode Electronics by 25.9% in the fourth quarter. Wells Fargo & Company MN now owns 22,231 shares of the electronics maker's stock worth $262,000 after acquiring an additional 4,574 shares in the last quarter. Barclays PLC raised its holdings 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 in the last quarter. Hsbc Holdings PLC lifted its stake in Methode Electronics by 284.6% during the fourth quarter. Hsbc Holdings PLC now owns 128,323 shares of the electronics maker's stock valued at $1,491,000 after purchasing an additional 94,956 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Methode Electronics by 30.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,763 shares of the electronics maker's stock valued at $516,000 after purchasing an additional 10,283 shares during the last quarter. Finally, Quarry LP bought a new stake in Methode Electronics during the fourth quarter worth approximately $32,000. Institutional investors own 95.49% of the company's stock.

Methode Electronics Stock Down 1.2%

Shares of MEI traded down $0.09 during mid-day trading on Wednesday, reaching $7.69. The company's stock had a trading volume of 165,321 shares, compared to its average volume of 398,703. The company has a market cap of $270.74 million, a price-to-earnings ratio of -4.33 and a beta of 1.07. The business has a fifty day moving average of $7.52 and a 200 day moving average of $7.52. The company has a quick ratio of 1.57, a current ratio of 2.40 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 1 year low of $5.08 and a 1 year high of $17.45.

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

Methode Electronics Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Monday, July 21st were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.28 dividend on an annualized basis and a yield of 3.6%. Methode Electronics's payout ratio is presently -15.73%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised 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 issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $10.50.

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.