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

Kingsview Wealth Management LLC bought a new position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 311,976 shares of the electronics maker's stock, valued at approximately $3,678,000. Kingsview Wealth Management LLC owned 0.87% of Methode Electronics at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. 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 worth $41,000 after acquiring an additional 3,200 shares during the period. CWM LLC boosted its stake in Methode Electronics by 685.1% in the 3rd quarter. CWM LLC now owns 8,730 shares of the electronics maker's stock valued at $104,000 after purchasing an additional 7,618 shares during the period. Diversified Trust Co bought a new stake in Methode Electronics in the 4th quarter valued at $126,000. Pinnacle Associates Ltd. bought a new stake in Methode Electronics in the 3rd quarter valued at $132,000. Finally, Intech Investment Management LLC bought a new stake in Methode Electronics in the 3rd quarter valued at $178,000. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Price Performance

Shares of NYSE:MEI traded up $0.37 during trading on Thursday, reaching $10.55. 176,244 shares of the company traded hands, compared to its average volume of 353,053. The company's 50 day moving average is $11.89 and its two-hundred day moving average is $11.01. The firm has a market capitalization of $376.07 million, a PE ratio of -4.17 and a beta of 0.76. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. Methode Electronics, Inc. has a 52 week low of $8.54 and a 52 week high of $22.20.

Methode Electronics (NYSE:MEI - Get Free Report) last released its earnings results on Thursday, December 5th. The electronics maker reported $0.14 earnings per share for the quarter, beating 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 quarter in the prior year, the business posted $0.06 earnings per share. As a group, sell-side analysts predict that Methode Electronics, Inc. will post -0.4 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 5.31%. Methode Electronics's dividend payout ratio (DPR) is currently -22.13%.

Wall Street Analyst Weigh In

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

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.