Methode Electronics Inc. (NYSE:MEI) Director Lawrence B. Skatoff sold 500 shares of the business’s stock in a transaction on Friday, September 23rd. The shares were sold at an average price of C$34.92, for a total value of C$17,460.00. Following the sale, the director now owns 39,350 shares in the company, valued at C$1,374,102. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Methode Electronics Inc. (NYSE:MEI) opened at 35.21 on Wednesday. The stock has a market capitalization of $1.30 billion, a PE ratio of 16.24 and a beta of 1.34. Methode Electronics Inc. has a 12-month low of $23.83 and a 12-month high of $37.25. The stock has a 50 day moving average price of $35.61 and a 200-day moving average price of $31.81.
Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, September 1st. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company had revenue of $191.90 million for the quarter, compared to the consensus estimate of $203.06 million. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. Methode Electronics’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. On average, equities analysts anticipate that Methode Electronics Inc. will post $2.30 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Investors of record on Friday, October 14th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Wednesday, October 12th. This represents a $0.36 annualized dividend and a yield of 1.02%. Methode Electronics’s dividend payout ratio (DPR) is presently 16.67%.
MEI has been the topic of a number of research analyst reports. Zacks Investment Research lowered Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 22nd. Robert W. Baird upgraded Methode Electronics from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $35.00 to $45.00 in a research note on Friday, June 24th. B. Riley restated a “buy” rating and issued a $44.50 target price on shares of Methode Electronics in a research note on Tuesday, June 21st. FBR & Co restated an “outperform” rating and issued a $42.00 target price on shares of Methode Electronics in a research note on Friday, June 24th. Finally, Craig Hallum lowered Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 target price on the stock. in a research note on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of C$22.48.
A number of institutional investors have recently added to or reduced their stakes in MEI. Acrospire Investment Management LLC increased its position in Methode Electronics by 87.2% in the second quarter. Acrospire Investment Management LLC now owns 3,435 shares of the company’s stock valued at $118,000 after buying an additional 1,600 shares during the period. Quantbot Technologies LP increased its position in Methode Electronics by 140.4% in the second quarter. Quantbot Technologies LP now owns 3,895 shares of the company’s stock valued at $133,000 after buying an additional 2,275 shares during the period. Tower Research Capital LLC TRC bought a new position in Methode Electronics during the second quarter valued at $138,000. BlackRock Inc. increased its position in Methode Electronics by 76.9% in the second quarter. BlackRock Inc. now owns 4,419 shares of the company’s stock valued at $152,000 after buying an additional 1,921 shares during the period. Finally, PineBridge Investments L.P. increased its position in Methode Electronics by 3.5% in the second quarter. PineBridge Investments L.P. now owns 4,681 shares of the company’s stock valued at $160,000 after buying an additional 159 shares during the period. Institutional investors own 92.09% of the company’s stock.
Methode Electronics Company Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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