Hotchkis & Wiley Capital Management LLC Has $13.44 Million Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Methode Electronics, Inc. (NYSE:MEI) by 5.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,123,760 shares of the electronics maker’s stock after purchasing an additional 62,470 shares during the quarter. Hotchkis & Wiley Capital Management LLC’s holdings in Methode Electronics were worth $13,440,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Federated Hermes Inc. raised its stake in shares of Methode Electronics by 128.1% during the second quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after buying an additional 949,616 shares during the last quarter. Millennium Management LLC raised its position in shares of Methode Electronics by 98.7% during the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after acquiring an additional 321,832 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Methode Electronics in the 2nd quarter valued at $2,619,000. Algert Global LLC boosted its position in shares of Methode Electronics by 228.2% in the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock worth $3,272,000 after purchasing an additional 190,203 shares during the last quarter. Finally, Walleye Capital LLC grew its stake in shares of Methode Electronics by 86.6% during the third quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock worth $3,999,000 after purchasing an additional 155,147 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Methode Electronics news, Director David P. Blom purchased 9,320 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were purchased at an average cost of $10.81 per share, with a total value of $100,749.20. Following the transaction, the director now directly owns 37,531 shares of the company’s stock, valued at $405,710.11. This represents a 33.04 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Mary A. Lindsey acquired 8,800 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $11.38 per share, with a total value of $100,144.00. Following the acquisition, the director now directly owns 25,970 shares in the company, valued at $295,538.60. This represents a 51.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by corporate insiders.

Methode Electronics Price Performance

NYSE MEI opened at $11.09 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $25.34. The business has a 50 day simple moving average of $10.36 and a 200 day simple moving average of $10.78. The stock has a market cap of $390.81 million, a price-to-earnings ratio of -2.75 and a beta of 0.81.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The company had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. During the same quarter in the previous year, the business earned $0.06 earnings per share. Analysts anticipate that Methode Electronics, Inc. will post -0.68 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.14 per share. The ex-dividend date was Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 5.05%. Methode Electronics’s dividend payout ratio is currently -13.90%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MEI shares. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Robert W. Baird decreased their price objective on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday, September 6th.

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.