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

Hotchkis & Wiley Capital Management LLC boosted its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,123,760 shares of the electronics maker's stock after acquiring an additional 62,470 shares during the period. Hotchkis & Wiley Capital Management LLC owned 3.19% of Methode Electronics worth $13,440,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in Methode Electronics by 4.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 26,910 shares of the electronics maker's stock worth $328,000 after acquiring an additional 1,163 shares during the last quarter. SummerHaven Investment Management LLC increased its holdings in shares of Methode Electronics by 6.0% during the 2nd quarter. SummerHaven Investment Management LLC now owns 22,474 shares of the electronics maker's stock worth $233,000 after purchasing an additional 1,281 shares during the period. Quest Partners LLC increased its holdings in shares of Methode Electronics by 17.1% during the 2nd quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock worth $125,000 after purchasing an additional 1,758 shares during the period. nVerses Capital LLC increased its holdings in shares of Methode Electronics by 1,600.0% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker's stock worth $41,000 after purchasing an additional 3,200 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Methode Electronics by 4.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,971 shares of the electronics maker's stock worth $909,000 after purchasing an additional 3,288 shares during the period. Institutional investors and hedge funds own 95.49% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MEI shares. StockNews.com raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a research note on Friday, September 6th. Robert W. Baird lowered their target price on shares of Methode Electronics from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th.

Methode Electronics Trading Up 4.7 %

MEI traded up $0.52 during mid-day trading on Wednesday, hitting $11.61. The stock had a trading volume of 429,065 shares, compared to its average volume of 526,191. The stock's fifty day simple moving average is $10.35 and its 200-day simple moving average is $10.77. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The firm has a market capitalization of $409.19 million, a price-to-earnings ratio of -2.75 and a beta of 0.81. Methode Electronics, Inc. has a 1-year low of $8.54 and a 1-year high of $25.20.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative return on equity of 3.50% and a negative net margin of 13.15%. The firm had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. During the same quarter last year, the business posted $0.06 earnings per share. As a group, research analysts forecast that Methode Electronics, Inc. will post -0.68 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Friday, October 18th. Methode Electronics's dividend payout ratio (DPR) is currently -13.90%.

Insider Activity at Methode Electronics

In related news, Director Mary A. Lindsey bought 8,800 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was bought at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the purchase, the director now owns 25,970 shares in the company, valued at $295,538.60. This represents a 51.25 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director David P. Blom acquired 9,320 shares of the company's stock in a transaction on Wednesday, September 18th. The stock was acquired at an average price of $10.81 per share, with a total value of $100,749.20. Following the purchase, the director now directly owns 37,531 shares in the company, valued at approximately $405,710.11. This represents a 33.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.40% of the stock is owned by insiders.

Methode Electronics 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.