Kingsview Wealth Management LLC Invests $1.60 Million in Methode Electronics, Inc. (NYSE:MEI)

Kingsview Wealth Management LLC purchased a new position in Methode Electronics, Inc. (NYSE:MEI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 70,359 shares of the electronics maker’s stock, valued at approximately $1,599,000. Kingsview Wealth Management LLC owned approximately 0.20% of Methode Electronics at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its stake in Methode Electronics by 512.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock worth $28,000 after purchasing an additional 1,014 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Methode Electronics by 295.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker’s stock worth $62,000 after buying an additional 2,025 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Methode Electronics by 2,182.5% in the 4th quarter. International Assets Investment Management LLC now owns 5,866 shares of the electronics maker’s stock valued at $133,000 after buying an additional 5,609 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Methode Electronics by 31.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,956 shares of the electronics maker’s stock worth $182,000 after acquiring an additional 1,899 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Methode Electronics by 30.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,809 shares of the electronics maker’s stock valued at $224,000 after acquiring an additional 2,283 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on MEI shares. Sidoti reissued a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research note on Thursday, March 7th. Jefferies Financial Group started coverage on Methode Electronics in a report on Tuesday, April 9th. They set a “hold” rating and a $12.00 price target for the company.

Methode Electronics Price Performance

NYSE MEI traded up $0.08 during trading on Friday, hitting $12.35. The stock had a trading volume of 204,217 shares, compared to its average volume of 408,281. Methode Electronics, Inc. has a twelve month low of $10.83 and a twelve month high of $46.58. The firm has a 50 day moving average price of $12.12 and a 200 day moving average price of $18.56. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.85 and a current ratio of 2.74.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, March 7th. The electronics maker reported ($0.33) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.40). The company had revenue of $259.50 million for the quarter, compared to analysts’ expectations of $288.50 million. Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. During the same period in the prior year, the company posted $0.54 EPS. As a group, research analysts predict that Methode Electronics, Inc. will post -0.41 earnings per share for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a $0.14 dividend. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $0.56 annualized dividend and a yield of 4.53%. Methode Electronics’s dividend payout ratio (DPR) is -34.15%.

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.