Aviance Capital Partners LLC Acquires 3,593 Shares of Methode Electronics, Inc. (NYSE:MEI)

Aviance Capital Partners LLC lifted its holdings in shares of Methode Electronics, Inc. (NYSE:MEI) by 13.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,248 shares of the electronics maker’s stock after acquiring an additional 3,593 shares during the quarter. Aviance Capital Partners LLC’s holdings in Methode Electronics were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in Methode Electronics by 512.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,212 shares of the electronics maker’s stock valued at $28,000 after purchasing an additional 1,014 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Methode Electronics by 295.6% during the 4th 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 in the last quarter. International Assets Investment Management LLC increased its position in shares of Methode Electronics by 2,182.5% during the fourth 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 during the period. Counterpoint Mutual Funds LLC bought a new position in Methode Electronics in the first quarter worth about $176,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Methode Electronics by 30.3% in the third quarter. PNC Financial Services Group Inc. now owns 9,809 shares of the electronics maker’s stock worth $224,000 after buying an additional 2,283 shares during the period. Institutional investors own 95.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MEI shares. Sidoti reiterated a “neutral” rating and set a $17.00 target price on shares of Methode Electronics in a report on Thursday, March 7th. Jefferies Financial Group assumed coverage on Methode Electronics in a research note on Tuesday, April 9th. They issued a “hold” rating and a $12.00 price target on the stock.

Methode Electronics Stock Up 0.8 %

NYSE MEI traded up $0.08 during trading hours on Monday, reaching $10.43. 32,767 shares of the company’s stock traded hands, compared to its average volume of 576,340. Methode Electronics, Inc. has a 52-week low of $8.54 and a 52-week high of $34.04. 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 firm has a 50-day simple moving average of $11.27 and a 200 day simple moving average of $15.82. The firm has a market cap of $369.12 million, a PE ratio of -6.31 and a beta of 0.72.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 12th will be given a $0.14 dividend. The ex-dividend date is Friday, July 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.37%. Methode Electronics’s dividend payout ratio is currently -34.15%.

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.