Methode Electronics, Inc. $MEI Shares Acquired by AQR Capital Management LLC

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 increased its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 93.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 932,833 shares of the electronics maker's stock after acquiring 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 quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MEI. Northern Trust Corp raised its stake in Methode Electronics by 3.1% during the fourth quarter. Northern Trust Corp now owns 345,479 shares of the electronics maker's stock worth $4,073,000 after acquiring an additional 10,240 shares during the period. Ameriprise Financial Inc. grew its position in Methode Electronics by 4.6% in the 4th quarter. Ameriprise Financial Inc. now owns 651,283 shares of the electronics maker's stock worth $7,679,000 after purchasing an additional 28,464 shares during the last quarter. BNP Paribas Financial Markets grew its position in Methode Electronics by 96.2% in the 4th quarter. BNP Paribas Financial Markets now owns 197,433 shares of the electronics maker's stock worth $2,328,000 after purchasing an additional 96,820 shares during the last quarter. Bank of America Corp DE grew its position in Methode Electronics by 21.1% in the 4th quarter. Bank of America Corp DE now owns 334,838 shares of the electronics maker's stock worth $3,948,000 after purchasing an additional 58,378 shares during the last quarter. Finally, Balyasny Asset Management L.P. grew its position in Methode Electronics by 151.9% in the 4th quarter. Balyasny Asset Management L.P. now owns 44,695 shares of the electronics maker's stock worth $527,000 after purchasing an additional 26,950 shares during the last quarter. Institutional investors and hedge funds own 95.49% of the company's stock.

Analyst Ratings Changes

MEI has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Robert W. Baird upped their target price on shares of Methode Electronics from $7.00 to $8.50 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $11.25.

Methode Electronics Price Performance

Shares of Methode Electronics stock traded up $0.24 on Thursday, hitting $8.33. The company had a trading volume of 441,113 shares, compared to its average volume of 471,976. The business has a 50-day simple moving average of $7.08 and a 200-day simple moving average of $7.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 1.63. The company has a market cap of $293.26 million, a PE ratio of -5.37 and a beta of 1.07. Methode Electronics, Inc. has a 52 week low of $5.08 and a 52 week high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.40) by $0.18. The business had revenue of $240.50 million during the quarter, compared to analysts' expectations of $224.57 million. Methode Electronics had a negative net margin of 5.30% and a negative return on equity of 5.27%. During the same period last year, the firm posted ($0.31) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. Research analysts expect that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Monday, July 21st were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.28 annualized dividend and a yield of 3.4%. Methode Electronics's dividend payout ratio is currently -18.06%.

Methode Electronics Company 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.