Aviance Capital Partners LLC Has $644,000 Stock Position in Methode Electronics, Inc. (NYSE:MEI)

Aviance Capital Partners LLC raised its holdings in Methode Electronics, Inc. (NYSE:MEI) by 92.1% during the third quarter, HoldingsChannel reports. The firm owned 53,813 shares of the electronics maker’s stock after acquiring an additional 25,802 shares during the quarter. Aviance Capital Partners LLC’s holdings in Methode Electronics were worth $644,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. increased its position in Methode Electronics by 128.1% during the 2nd quarter. Federated Hermes Inc. now owns 1,690,878 shares of the electronics maker’s stock worth $17,501,000 after purchasing an additional 949,616 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Methode Electronics by 424.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 52,966 shares of the electronics maker’s stock valued at $645,000 after acquiring an additional 42,875 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Methode Electronics by 29.5% during the 2nd quarter. American Century Companies Inc. now owns 335,131 shares of the electronics maker’s stock valued at $3,469,000 after acquiring an additional 76,391 shares in the last quarter. SG Americas Securities LLC bought a new stake in Methode Electronics during the 1st quarter worth $136,000. Finally, Quadrature Capital Ltd increased its holdings in Methode Electronics by 33.8% in the 1st quarter. Quadrature Capital Ltd now owns 56,898 shares of the electronics maker’s stock worth $694,000 after purchasing an additional 14,378 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Trading Up 0.7 %

Shares of MEI stock opened at $9.26 on Wednesday. Methode Electronics, Inc. has a 1-year low of $8.54 and a 1-year high of $25.34. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. The stock has a market cap of $326.32 million, a price-to-earnings ratio of -2.30 and a beta of 0.76. The stock has a 50-day moving average of $10.40 and a 200-day moving average of $10.85.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). The firm had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same period in the prior year, the company posted $0.06 EPS. On average, equities research analysts forecast that Methode Electronics, Inc. will post -0.62 earnings per share for the current year.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.14 dividend. The ex-dividend date was Friday, October 18th. This represents a $0.56 annualized dividend and a yield of 6.05%. Methode Electronics’s payout ratio is -13.90%.

Analyst Ratings Changes

MEI has been the topic of several research reports. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird decreased their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday, September 6th.

Insiders Place Their Bets

In related news, Director David P. Blom acquired 9,320 shares of Methode Electronics stock in a transaction dated Wednesday, September 18th. The stock was bought at an average price of $10.81 per share, with a total value of $100,749.20. Following the transaction, the director now directly owns 37,531 shares in the company, valued at $405,710.11. This represents a 33.04 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary A. Lindsey bought 8,800 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were bought at an average price of $11.38 per share, for a total transaction of $100,144.00. Following the transaction, the director now directly owns 25,970 shares in the company, valued at $295,538.60. This trade represents a 51.25 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 1.40% of the company’s stock.

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.