Methode Electronics, Inc. $MEI Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 5.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,523 shares of the electronics maker’s stock after selling 3,071 shares during the quarter. Rhumbline Advisers owned approximately 0.15% of Methode Electronics worth $341,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in 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 purchasing an additional 85,811 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in Methode Electronics by 29.1% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,553,250 shares of the electronics maker’s stock worth $9,910,000 after acquiring an additional 349,890 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Methode Electronics by 93.8% in the 1st quarter. AQR Capital Management LLC now owns 932,833 shares of the electronics maker’s stock valued at $5,951,000 after purchasing an additional 451,529 shares in the last quarter. American Century Companies Inc. raised its position in shares of Methode Electronics by 13.5% in the 1st quarter. American Century Companies Inc. now owns 609,428 shares of the electronics maker’s stock valued at $3,888,000 after purchasing an additional 72,320 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Methode Electronics by 25.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 475,354 shares of the electronics maker’s stock valued at $3,033,000 after purchasing an additional 95,938 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Trading Down 2.6%

Shares of NYSE MEI opened at $7.77 on Thursday. Methode Electronics, Inc. has a one year low of $5.08 and a one year high of $17.45. The firm has a market capitalization of $273.58 million, a PE ratio of -5.01 and a beta of 1.07. The company has a current ratio of 2.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The business has a 50-day moving average price of $7.18 and a two-hundred day moving average price of $7.30.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Tuesday, September 9th. The electronics maker reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.18. Methode Electronics had a negative return on equity of 5.27% and a negative net margin of 5.30%.The firm had revenue of $240.50 million during the quarter, compared to analyst estimates of $224.57 million. During the same period last year, the company posted ($0.31) EPS. Methode Electronics has set its FY 2026 guidance at EPS. As a group, 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 disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Monday, July 21st were issued 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 dividend yield of 3.6%. Methode Electronics’s dividend payout ratio is currently -18.06%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Robert W. Baird upped their price objective on Methode Electronics from $7.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. Wall Street Zen raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. One equities research 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 stock has an average rating of “Moderate Buy” and an average target price of $11.25.

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.