Aviance Capital Partners LLC Buys 2,781 Shares of Methode Electronics, Inc. (NYSE:MEI)

Aviance Capital Partners LLC lifted its stake 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 & Exchange Commission. The firm owned 56,594 shares of the electronics maker’s stock after buying an additional 2,781 shares during the quarter. Aviance Capital Partners LLC owned about 0.16% of Methode Electronics worth $667,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MEI. Diversified Trust Co acquired a new stake in shares of Methode Electronics during the 4th quarter worth approximately $126,000. Intech Investment Management LLC acquired a new stake in shares of Methode Electronics during the 3rd quarter worth approximately $178,000. SG Americas Securities LLC acquired a new stake in shares of Methode Electronics during the 4th quarter worth approximately $209,000. Inceptionr LLC acquired a new stake in shares of Methode Electronics during the 4th quarter worth approximately $222,000. Finally, XTX Topco Ltd acquired a new stake in shares of Methode Electronics during the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

Methode Electronics Price Performance

Shares of MEI opened at $6.57 on Friday. The company has a quick ratio of 1.73, a current ratio of 2.75 and a debt-to-equity ratio of 0.46. The business’s fifty day moving average is $11.23 and its 200 day moving average is $10.93. Methode Electronics, Inc. has a 12-month low of $6.26 and a 12-month high of $17.45. The stock has a market cap of $234.09 million, a P/E ratio of -2.59 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative net margin of 8.16% and a negative return on equity of 3.26%. The company had revenue of $239.90 million for the quarter, compared to the consensus estimate of $264.01 million. During the same quarter last year, the business posted ($0.33) earnings per share. Sell-side analysts anticipate that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

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

Analyst Upgrades and Downgrades

Several analysts have recently commented on MEI shares. Sidoti raised shares of Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Tuesday, February 25th. Robert W. Baird cut their target price on Methode Electronics from $14.00 to $9.00 and set a “neutral” rating on the stock 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.