Aviance Capital Partners LLC Increases Holdings in Methode Electronics, Inc. (NYSE:MEI)

Aviance Capital Partners LLC grew its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 5.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,594 shares of the electronics maker’s stock after purchasing an additional 2,781 shares during the quarter. Aviance Capital Partners LLC’s holdings in Methode Electronics were worth $667,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MEI. Kingsview Wealth Management LLC purchased a new stake in shares of Methode Electronics during the 4th quarter valued at $3,678,000. Algert Global LLC increased its position in shares of Methode Electronics by 228.2% during the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock valued at $3,272,000 after purchasing an additional 190,203 shares during the last quarter. Walleye Capital LLC increased its position in shares of Methode Electronics by 86.6% during the 3rd quarter. Walleye Capital LLC now owns 334,385 shares of the electronics maker’s stock valued at $3,999,000 after purchasing an additional 155,147 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Methode Electronics during the 3rd quarter valued at $1,466,000. Finally, Barclays PLC increased its position in shares of Methode Electronics by 112.3% during the 3rd quarter. Barclays PLC now owns 127,917 shares of the electronics maker’s stock valued at $1,530,000 after purchasing an additional 67,656 shares during the last quarter. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Trading Down 5.9 %

Shares of MEI opened at $6.57 on Friday. The business has a 50-day moving average of $11.23 and a 200 day moving average of $10.93. Methode Electronics, Inc. has a fifty-two week low of $6.26 and a fifty-two week high of $17.45. The firm has a market cap of $234.09 million, a P/E ratio of -2.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.73 and a current ratio of 2.75.

Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.04). The company had revenue of $239.90 million for the quarter, compared to analysts’ expectations of $264.01 million. Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. During the same period in the previous year, the firm earned ($0.33) EPS. As a group, research analysts forecast that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 8.53%. The ex-dividend date was Friday, January 17th. Methode Electronics’s payout ratio is presently -22.13%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a report on Tuesday, February 25th. Robert W. Baird decreased their price objective on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating for the company in a report on Friday.

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.