Cubist Systematic Strategies LLC Decreases Holdings in Methode Electronics, Inc. $MEI

Key Points

• Cubist Systematic Strategies LLC reduced its holdings in Methode Electronics by 14.8%, selling 37,647 shares and retaining a total of 216,816 shares valued at approximately $1.38 million.
• Methode Electronics received an upgrade to a "hold" rating from Wall Street Zen, with one analyst recommending a buy and another a hold.
• The company reported a $0.77 loss per share in its latest earnings results, missing the consensus estimate by $0.80, while revenue reached $257.1 million exceeding expectations.

Cubist Systematic Strategies LLC lessened its holdings in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 14.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 216,816 shares of the electronics maker's stock after selling 37,647 shares during the quarter. Cubist Systematic Strategies LLC owned 0.61% of Methode Electronics worth $1,383,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Graham Capital Management L.P. grew its stake in Methode Electronics by 88.8% in the 1st quarter. Graham Capital Management L.P. now owns 93,779 shares of the electronics maker's stock valued at $598,000 after purchasing an additional 44,100 shares during the period. Ieq Capital LLC grew its stake in Methode Electronics by 87.0% in the 1st quarter. Ieq Capital LLC now owns 48,222 shares of the electronics maker's stock valued at $308,000 after purchasing an additional 22,432 shares during the period. Virtus Advisers LLC bought a new position in Methode Electronics in the 1st quarter valued at $30,000. Hotchkis & Wiley Capital Management LLC grew its stake in Methode Electronics by 29.1% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,553,250 shares of the electronics maker's stock valued at $9,910,000 after purchasing an additional 349,890 shares during the period. Finally, AlphaQuest LLC grew its stake in Methode Electronics by 316.5% in the 1st quarter. AlphaQuest LLC now owns 18,781 shares of the electronics maker's stock valued at $120,000 after purchasing an additional 14,272 shares during the period. Institutional investors own 95.49% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on Methode Electronics from $7.00 to $8.50 and gave the company a "neutral" rating in a research note on Thursday. Wall Street Zen upgraded 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's stock. According to data from MarketBeat, Methode Electronics has an average rating of "Moderate Buy" and an average price target of $11.25.

Methode Electronics Price Performance

Shares of NYSE:MEI traded down $0.09 on Friday, hitting $8.13. The company's stock had a trading volume of 569,767 shares, compared to its average volume of 434,072. The company has a 50-day simple moving average of $7.20 and a 200 day simple moving average of $7.38. Methode Electronics, Inc. has a 1 year low of $5.08 and a 1 year high of $17.45. The company has a market capitalization of $286.40 million, a PE ratio of -5.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.50 and a quick ratio of 1.57.

Methode Electronics (NYSE:MEI - Get Free Report) last released its quarterly earnings results on Tuesday, September 9th. The electronics maker reported ($0.22) earnings per share for the quarter, beating 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 firm had revenue of $240.50 million for the quarter, compared to analysts' expectations of $224.57 million. During the same quarter last year, the firm posted ($0.31) EPS. Methode Electronics has set its FY 2026 guidance at EPS. Sell-side analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Cuts Dividend

The firm 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. The ex-dividend date of this dividend was Monday, July 21st. This represents a $0.28 annualized dividend and a dividend yield of 3.4%. Methode Electronics's dividend payout ratio (DPR) is presently -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.