AQR Capital Management LLC Acquires 451,529 Shares of Methode Electronics, Inc. $MEI

Key Points

• AQR Capital Management LLC increased its stake in Methode Electronics by 93.8%, acquiring an additional 451,529 shares, bringing its total ownership to 932,833 shares worth approximately $5.95 million.
• Research analysts have updated their outlook on Methode Electronics, with Robert W. Baird raising its price target from $7.00 to $8.50 and a consensus target price set at $11.25.
• Methode Electronics recently reported quarterly earnings with an EPS of ($0.22), surpassing expectations, and also declared a quarterly dividend yielding 3.4% after a previous cut.

AQR Capital Management LLC grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 93.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 932,833 shares of the electronics maker's stock after buying an additional 451,529 shares during the quarter. AQR Capital Management LLC owned approximately 2.61% of Methode Electronics worth $5,951,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its position in 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 in the last quarter. Nuveen LLC acquired a new position in shares of Methode Electronics during the 1st quarter worth about $2,379,000. Cerity Partners LLC acquired a new position in shares of Methode Electronics during the 1st quarter worth about $79,000. Two Sigma Investments LP increased its stake 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 purchasing an additional 39,894 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in shares of Methode Electronics during the 4th quarter worth about $1,225,000. 95.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Methode Electronics from $7.00 to $8.50 and gave the stock a "neutral" rating in a research note on Thursday. Wall Street Zen upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $11.25.

Methode Electronics Stock Down 1.0%

Shares of MEI opened at $8.13 on Friday. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45. The firm has a market cap of $286.40 million, a P/E ratio of -5.25 and a beta of 1.07. The firm's 50-day simple moving average is $7.20 and its 200 day simple moving average is $7.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.57 and a current ratio of 2.50.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its quarterly earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) EPS for the quarter, beating analysts' consensus estimates of ($0.40) by $0.18. Methode Electronics had a negative net margin of 5.30% and a negative return on equity of 5.27%. 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 business earned ($0.31) EPS. Methode Electronics has set its FY 2026 guidance at EPS. On average, analysts forecast that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 1st. Investors 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 dividend on an annualized basis and a yield of 3.4%. Methode Electronics's dividend payout ratio is -18.06%.

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.

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