Vanguard Group Inc. Purchases 85,811 Shares of Methode Electronics, Inc. $MEI

Key Points

• Vanguard Group Inc. increased its ownership in Methode Electronics by 3.0%, acquiring an additional 85,811 shares, bringing its total holdings to 2,931,118 shares worth approximately $18.7 million.
• Methode Electronics reported a loss of $0.77 per share for the last quarter, significantly missing analysts' estimate of $0.03, despite revenue of $257.1 million exceeding expectations.
• The company recently cut its dividend, declaring a quarterly dividend of $0.07, which reflects an annualized yield of 3.6% but has a negative dividend payout ratio of -15.73%.

Vanguard Group Inc. raised its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,931,118 shares of the electronics maker's stock after buying an additional 85,811 shares during the period. Vanguard Group Inc. owned about 8.21% of Methode Electronics worth $18,701,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its position in shares of Methode Electronics by 42.1% in the fourth quarter. Barclays PLC now owns 181,716 shares of the electronics maker's stock valued at $2,143,000 after acquiring an additional 53,799 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Methode Electronics by 30.7% in the fourth 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. Deutsche Bank AG increased its holdings in Methode Electronics by 4.4% during the 4th quarter. Deutsche Bank AG now owns 274,108 shares of the electronics maker's stock valued at $3,232,000 after purchasing an additional 11,439 shares during the period. Cerity Partners LLC purchased a new position in Methode Electronics during the 1st quarter valued at about $79,000. Finally, Two Sigma Investments LP raised its position in Methode Electronics by 11.5% during the 4th quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker's stock valued at $4,565,000 after purchasing an additional 39,894 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Methode Electronics from a "sell" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $10.50.

Methode Electronics Stock Down 1.3%

MEI traded down $0.10 during trading on Wednesday, hitting $7.68. 153,307 shares of the company's stock traded hands, compared to its average volume of 398,603. The stock has a market capitalization of $270.39 million, a price-to-earnings ratio of -4.31 and a beta of 1.07. The company's 50 day simple moving average is $7.52 and its two-hundred day simple moving average is $7.52. Methode Electronics, Inc. has a 12-month low of $5.08 and a 12-month high of $17.45. The company has a current ratio of 2.40, a quick ratio of 1.57 and a debt-to-equity ratio of 0.46.

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

Methode Electronics Cuts Dividend

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

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.