S&P 500 eases slightly from fresh record high after stronger economic growth
In a recent transaction, Lars Ullrich, Senior Vice President of Global Automotive Business at Methode Electronics Inc . (NYSE:MEI), purchased 15,150 shares of the company’s common stock. The shares were acquired at a weighted average price of $6.69 per share, totaling approximately $101,389. Following this transaction, Ullrich holds a total of 38,768 shares in the company. The purchase was conducted through a joint account with his spouse, as disclosed in the SEC filing.The insider purchase comes as MEI trades near its 52-week low, with shares down over 45% year-to-date. The stock currently offers an 8.75% dividend yield and trades at just 0.32 times book value, suggesting potential undervaluation according to InvestingPro analysis. For deeper insights into insider trading patterns and 13 additional key metrics, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Methode Electronics Inc. reported its third-quarter earnings for fiscal year 2025, revealing a significant miss in earnings per share (EPS) and a decline in revenue compared to forecasts. The company posted an EPS of -$0.21, falling short of the expected -$0.12. Revenue also came in at $239.9 million, below the anticipated $259.27 million, marking an 8% decrease year-over-year. Despite these challenges, Methode Electronics managed to improve its gross profit and return to positive free cash flow, reporting $19.6 million, an increase of $7.4 million from the previous year.
The company’s cash position also improved, reaching $103.8 million, up $6.8 million. Methode Electronics faced a challenging quarter, particularly in the automotive sector, with program roll-offs impacting sales. However, the company remains optimistic about future growth, anticipating profitable organic sales growth in fiscal 2026, excluding its appliance business. The company plans to launch more electric vehicle (EV) programs and expects a new GM busbar program to help offset program roll-offs. Despite these positive steps, the company did reduce its full-year sales guidance by $77 million. Analyst firms have not provided any recent upgrades or downgrades for the company.
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