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

Kingsview Wealth Management LLC acquired a new stake in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 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 hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Methode Electronics by 4.5% during the third quarter. Vanguard Group Inc. now owns 4,671,072 shares of the electronics maker's stock valued at $106,734,000 after buying an additional 201,129 shares during the last quarter. Kettle Hill Capital Management LLC bought a new position in Methode Electronics during the 3rd quarter worth approximately $1,544,000. Federated Hermes Inc. purchased a new position in Methode Electronics in the 4th quarter worth approximately $1,603,000. Numerai GP LLC bought a new stake in Methode Electronics in the third quarter valued at approximately $4,507,000. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Methode Electronics by 295.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,710 shares of the electronics maker's stock valued at $62,000 after purchasing an additional 2,025 shares during the period. Institutional investors own 95.49% of the company's stock.

Methode Electronics Trading Up 0.7 %

NYSE:MEI traded up $0.08 during trading hours on Friday, hitting $12.35. The company had a trading volume of 204,217 shares, compared to its average volume of 408,281. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.74 and a quick ratio of 1.85. The stock has a 50-day moving average price of $12.12 and a 200 day moving average price of $18.53. The company has a market capitalization of $437.07 million, a PE ratio of -7.53 and a beta of 0.84. Methode Electronics, Inc. has a 52 week low of $10.83 and a 52 week high of $46.58.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results 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 the consensus estimate of $288.50 million. Methode Electronics had a negative net margin of 5.09% and a positive return on equity of 0.07%. During the same period in the previous year, the firm posted $0.54 EPS. On average, equities research analysts predict that Methode Electronics, Inc. will post -0.41 EPS for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.53%. The ex-dividend date of this dividend was Thursday, April 11th. Methode Electronics's dividend payout ratio is currently -34.15%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on MEI shares. Sidoti reiterated a "neutral" rating and set a $17.00 price target on shares of Methode Electronics in a report on Thursday, March 7th. Jefferies Financial Group initiated coverage on shares of Methode Electronics in a report on Tuesday, April 9th. They set a "hold" rating and a $12.00 target price for the company.

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.