Graham Capital Management L.P. Grows Stock Position in Methode Electronics, Inc. $MEI

Key Points

• Graham Capital Management L.P. increased its stake in Methode Electronics, Inc. by 88.8%, owning 93,779 shares valued at $598,000 as of the latest SEC filing.
• Methode Electronics reported (0.77) earnings per share for the quarter, missing analysts' expectations, but had a revenue of $257.10 million which surpassed estimates.
• Wall Street analysts have upgraded Methode Electronics from a "sell" to a "hold" rating, with a consensus target price of $10.50 and a current rating of "Moderate Buy."

Graham Capital Management L.P. raised its holdings in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 88.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,779 shares of the electronics maker's stock after purchasing an additional 44,100 shares during the quarter. Graham Capital Management L.P. owned 0.26% of Methode Electronics worth $598,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Deutsche Bank AG boosted its position in Methode Electronics by 33.0% in the 1st quarter. Deutsche Bank AG now owns 364,666 shares of the electronics maker's stock valued at $2,327,000 after buying an additional 90,558 shares during the period. Nuveen LLC bought a new stake in shares of Methode Electronics during the first quarter valued at approximately $2,379,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Methode Electronics by 30.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,763 shares of the electronics maker's stock valued at $516,000 after purchasing an additional 10,283 shares during the period. Cerity Partners LLC bought a new position in Methode Electronics in the first quarter worth approximately $79,000. Finally, Two Sigma Investments LP increased its holdings in 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 period. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Stock Down 0.7%

MEI stock traded down $0.06 during trading on Thursday, reaching $8.24. 781,226 shares of the company traded hands, compared to its average volume of 417,253. The business has a 50 day simple moving average of $7.23 and a 200 day simple moving average of $7.40. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.57 and a current ratio of 2.50. The company has a market capitalization of $290.13 million, a price-to-earnings ratio of -5.32 and a beta of 1.07.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $224.57 million. During the same period in the prior year, the firm posted ($0.31) earnings per share. Methode Electronics has set its FY 2026 guidance at EPS. On average, equities research analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Monday, July 21st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Monday, July 21st. Methode Electronics's payout ratio is currently -15.73%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Robert W. Baird upped their target price on Methode Electronics from $7.00 to $8.50 and gave the stock a "neutral" rating in a report on Thursday. Wall Street Zen raised 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 given a Hold rating to the company. According to data from MarketBeat, Methode Electronics presently has a consensus rating of "Moderate Buy" and an average price target of $11.25.

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.