Acadian Asset Management LLC Has $2.21 Million Stake in Methode Electronics, Inc. $MEI

Key Points

• Acadian Asset Management LLC increased its holdings in Methode Electronics by 105.1%, purchasing an additional 177,200 shares, bringing its total to 345,794 shares worth approximately $2.2 million.
• Methode Electronics reported a quarterly loss of ($0.22) earnings per share, surpassing analyst estimates of ($0.40), with revenues of $240.5 million for the period.
• Research analysts have updated their ratings with Methode Electronics receiving a consensus target price of $11.25 and a “Moderate Buy” consensus rating.

Acadian Asset Management LLC grew its position in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 105.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 345,794 shares of the electronics maker's stock after acquiring an additional 177,200 shares during the quarter. Acadian Asset Management LLC owned 0.97% of Methode Electronics worth $2,205,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AQR Capital Management LLC lifted 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 worth $5,951,000 after acquiring an additional 451,529 shares during the period. Deutsche Bank AG lifted its position in shares of Methode Electronics by 33.0% during the 1st quarter. Deutsche Bank AG now owns 364,666 shares of the electronics maker's stock worth $2,327,000 after buying an additional 90,558 shares during the period. Nuveen LLC bought a new position in shares of Methode Electronics during the 1st quarter worth approximately $2,379,000. Cerity Partners LLC bought a new position in shares of Methode Electronics during the 1st quarter worth approximately $79,000. Finally, Two Sigma Investments LP lifted its position in shares of Methode Electronics by 11.5% during the 4th quarter. Two Sigma Investments LP now owns 387,218 shares of the electronics maker's stock worth $4,565,000 after buying an additional 39,894 shares during the period. Institutional investors own 95.49% of the company's stock.

Methode Electronics Stock Down 4.0%

MEI traded down $0.33 on Friday, hitting $8.00. 1,125,728 shares of the company were exchanged, compared to its average volume of 477,433. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a market cap of $281.68 million, a PE ratio of -5.16 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.63 and a current ratio of 2.50. The stock's fifty day moving average is $7.10 and its 200-day moving average is $7.30.

Methode Electronics (NYSE:MEI - Get Free Report) last released its earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $240.50 million for the quarter, compared to analyst estimates of $224.57 million. During the same quarter in the prior year, the company posted ($0.31) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. Equities research analysts predict that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, July 21st were paid a $0.07 dividend. The ex-dividend date was Monday, July 21st. This represents a $0.28 annualized dividend and a yield of 3.5%. Methode Electronics's dividend payout ratio is currently -18.06%.

Wall Street Analyst Weigh In

MEI has been the subject of several analyst reports. Robert W. Baird raised their target price on Methode Electronics from $7.00 to $8.50 and gave the stock a "neutral" rating in a research report 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 analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $11.25.

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.