Nuveen LLC Buys New Position in Methode Electronics, Inc. $MEI

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

Several other hedge funds and other institutional investors have also bought and sold shares of MEI. Quarry LP purchased a new position in Methode Electronics in the fourth quarter worth $32,000. Virtus Fund Advisers LLC bought a new stake in shares of Methode Electronics during the 4th quarter valued at $38,000. GAMMA Investing LLC increased its stake in Methode Electronics by 1,817.4% in the 1st quarter. GAMMA Investing LLC now owns 7,056 shares of the electronics maker’s stock worth $45,000 after acquiring an additional 6,688 shares during the last quarter. Aigen Investment Management LP bought a new position in Methode Electronics in the 1st quarter worth about $73,000. Finally, Cerity Partners LLC bought a new position in Methode Electronics in the 1st quarter worth about $79,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analysts Set New Price Targets

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

Methode Electronics Stock Down 0.9%

MEI stock opened at $7.73 on Friday. Methode Electronics, Inc. has a twelve month low of $5.08 and a twelve month high of $17.45. The company has a quick ratio of 1.57, a current ratio of 2.40 and a debt-to-equity ratio of 0.46. The firm has a market cap of $272.17 million, a PE ratio of -4.34 and a beta of 1.04. The business has a 50 day moving average of $7.57 and a 200 day moving average of $7.58.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data 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). Methode Electronics had a negative net margin of 5.97% and a negative return on equity of 5.60%. The company had revenue of $257.10 million for the quarter, compared to the consensus estimate of $228.75 million. During the same period last year, the business earned ($0.23) EPS. Methode Electronics has set its FY 2026 guidance at EPS. On average, research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, July 21st were issued a $0.07 dividend. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 3.6%. Methode Electronics’s dividend payout ratio (DPR) is presently -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.