Goldman Sachs Group Inc. Sells 295,639 Shares of Methode Electronics, Inc. $MEI

Key Points

• Goldman Sachs Group Inc. reduced its stake in Methode Electronics by 24.6%, selling 295,639 shares and currently holding 904,582 shares valued at approximately $5.77 million.
• Analysts have raised Methode Electronics' average price target to $11.25, with Robert W. Baird upgrading the stock to a target of $8.50 and a "neutral" rating.
• Methode Electronics reported earnings of ($0.22) EPS, exceeding estimates, with a revenue of $240.5 million for the recent quarter.

Goldman Sachs Group Inc. trimmed its stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 24.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 904,582 shares of the electronics maker's stock after selling 295,639 shares during the period. Goldman Sachs Group Inc. owned about 2.53% of Methode Electronics worth $5,771,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Virtus Advisers LLC acquired a new stake in Methode Electronics in the 1st quarter valued at $30,000. Virtus Fund Advisers LLC acquired a new stake in Methode Electronics in the 4th quarter valued at $38,000. GAMMA Investing LLC increased its stake in Methode Electronics by 1,817.4% in the 1st quarter. GAMMA Investing LLC now owns 7,056 shares of the electronics maker's stock valued at $45,000 after buying an additional 6,688 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Methode Electronics during the 1st quarter worth about $73,000. Finally, Cerity Partners LLC acquired a new position in shares of Methode Electronics during the 1st quarter worth about $79,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

NYSE MEI traded down $0.33 during trading on Friday, reaching $8.00. The company's stock had a trading volume of 1,125,728 shares, compared to its average volume of 477,433. The company has a current ratio of 2.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $281.68 million, a price-to-earnings ratio of -5.16 and a beta of 1.07. Methode Electronics, Inc. has a 12 month low of $5.08 and a 12 month high of $17.45. The firm has a 50 day moving average price of $7.10 and a 200 day moving average price of $7.30.

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

Methode Electronics Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MEI shares. 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, September 11th. Wall Street Zen raised shares of Methode Electronics from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One research 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, Methode Electronics currently 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.