Methode Electronics, Inc. (NYSE:MEI) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC increased its stake in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 124.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,177 shares of the electronics maker's stock after purchasing an additional 124,677 shares during the quarter. AQR Capital Management LLC owned 0.64% of Methode Electronics worth $2,331,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its holdings in Methode Electronics by 749.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,693 shares of the electronics maker's stock worth $59,000 after purchasing an additional 5,023 shares during the last quarter. Hennessy Advisors Inc. acquired a new stake in Methode Electronics during the 2nd quarter worth about $111,000. SG Americas Securities LLC purchased a new position in shares of Methode Electronics during the first quarter valued at $136,000. Quest Partners LLC boosted its position in Methode Electronics by 17.1% during the second quarter. Quest Partners LLC now owns 12,062 shares of the electronics maker's stock valued at $125,000 after purchasing an additional 1,758 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Methode Electronics during the 1st quarter valued at $176,000. Institutional investors and hedge funds own 95.49% of the company's stock.

Insider Buying and Selling at Methode Electronics

In related news, Director Mary A. Lindsey acquired 8,800 shares of the firm's stock in a transaction that occurred on Monday, September 23rd. The stock was purchased at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the purchase, the director now directly owns 25,970 shares of the company's stock, valued at $295,538.60. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. In other Methode Electronics news, Director Mary A. Lindsey acquired 8,800 shares of the business's stock in a transaction dated Monday, September 23rd. The stock was acquired at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now directly owns 25,970 shares of the company's stock, valued at $295,538.60. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Blom purchased 9,320 shares of the firm's stock in a transaction dated Wednesday, September 18th. The stock was acquired at an average cost of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the purchase, the director now owns 37,531 shares of the company's stock, valued at approximately $405,710.11. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MEI shares. Robert W. Baird decreased their price target on shares of Methode Electronics from $15.00 to $13.00 and set a "neutral" rating on the stock in a research note on Friday, September 6th. StockNews.com upgraded shares of Methode Electronics from a "sell" rating to a "hold" rating in a research report on Friday, September 6th.

Methode Electronics Stock Down 0.7 %

Shares of MEI stock traded down $0.07 during trading hours on Wednesday, reaching $10.47. The company had a trading volume of 401,626 shares, compared to its average volume of 554,936. Methode Electronics, Inc. has a 12 month low of $8.54 and a 12 month high of $26.02. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The business has a fifty day simple moving average of $10.72 and a 200-day simple moving average of $11.31. The company has a market cap of $370.53 million, a price-to-earnings ratio of -3.00 and a beta of 0.72.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings results on Thursday, September 5th. The electronics maker reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The business had revenue of $258.50 million for the quarter, compared to the consensus estimate of $267.66 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, research analysts expect that Methode Electronics, Inc. will post -0.62 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Friday, October 18th. Methode Electronics's payout ratio is -16.05%.

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.