Kingsview Wealth Management LLC Buys New Position in Methode Electronics, Inc. (NYSE:MEI)

Kingsview Wealth Management LLC purchased a new stake in Methode Electronics, Inc. (NYSE:MEI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 311,976 shares of the electronics maker’s stock, valued at approximately $3,678,000. Kingsview Wealth Management LLC owned approximately 0.87% of Methode Electronics as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. nVerses Capital LLC boosted its stake in shares of Methode Electronics by 1,600.0% during the 3rd quarter. nVerses Capital LLC now owns 3,400 shares of the electronics maker’s stock valued at $41,000 after purchasing an additional 3,200 shares in the last quarter. CWM LLC lifted its holdings in Methode Electronics by 685.1% in the third quarter. CWM LLC now owns 8,730 shares of the electronics maker’s stock worth $104,000 after buying an additional 7,618 shares during the period. Diversified Trust Co bought a new stake in Methode Electronics during the 4th quarter valued at approximately $126,000. Pinnacle Associates Ltd. purchased a new position in shares of Methode Electronics during the 3rd quarter worth approximately $132,000. Finally, Intech Investment Management LLC bought a new position in shares of Methode Electronics in the 3rd quarter worth approximately $178,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird upped their price target on Methode Electronics from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th.

Methode Electronics Trading Down 4.1 %

NYSE:MEI opened at $10.53 on Monday. The firm has a market capitalization of $375.50 million, a P/E ratio of -4.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. Methode Electronics, Inc. has a one year low of $8.54 and a one year high of $22.20. The company’s 50-day simple moving average is $12.03 and its 200 day simple moving average is $11.06.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 5th. The electronics maker reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.31. Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. During the same period in the previous year, the company posted $0.06 EPS. As a group, analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were issued a dividend of $0.14 per share. The ex-dividend date was Friday, January 17th. This represents a $0.56 annualized dividend and a dividend yield of 5.32%. Methode Electronics’s payout ratio is presently -22.13%.

About Methode Electronics

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.