Nuveen LLC Takes $2.38 Million Position in Methode Electronics, Inc. $MEI

Key Points

• Nuveen LLC has acquired a new stake in Methode Electronics, purchasing 372,926 shares valued at approximately $2.38 million, which represents about 1.04% ownership as of the latest SEC filing.
• Methode Electronics has seen increased institutional interest, with hedge funds now holding 95.49% of the company's stock and several funds establishing new positions recently.
• Despite a consensus rating of "Moderate Buy" and a target price of $10.50, the company's stock has struggled, reporting a negative earnings per share of ($0.77) for the last quarter, missing analyst expectations significantly.

Nuveen LLC bought a new stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 372,926 shares of the electronics maker's stock, valued at approximately $2,379,000. Nuveen LLC owned approximately 1.04% of Methode Electronics as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Aigen Investment Management LP purchased a new position in Methode Electronics during the 1st quarter valued at approximately $73,000. Deutsche Bank AG raised its stake in Methode Electronics by 33.0% during the first quarter. Deutsche Bank AG now owns 364,666 shares of the electronics maker's stock valued at $2,327,000 after purchasing an additional 90,558 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Methode Electronics by 25.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 475,354 shares of the electronics maker's stock worth $3,033,000 after buying an additional 95,938 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Methode Electronics by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,931,118 shares of the electronics maker's stock valued at $18,701,000 after acquiring an additional 85,811 shares during the last quarter. Finally, GSA Capital Partners LLP grew its position in Methode Electronics by 17.1% in the first quarter. GSA Capital Partners LLP now owns 262,105 shares of the electronics maker's stock worth $1,672,000 after acquiring an additional 38,355 shares in the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded 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 MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $10.50.

Methode Electronics Stock Down 1.3%

Shares of NYSE:MEI traded down $0.10 during trading hours on Wednesday, hitting $7.68. The company's stock had a trading volume of 153,307 shares, compared to its average volume of 398,603. The company has a market capitalization of $270.39 million, a price-to-earnings ratio of -4.31 and a beta of 1.07. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.40 and a quick ratio of 1.57. The firm's fifty day moving average price is $7.52 and its 200 day moving average price is $7.52. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $257.10 million during 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 period last year, the company earned ($0.23) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. As a group, research analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, July 21st were paid 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 -15.73%.

About Methode Electronics

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.