Methode Electronics Inc. (NYSE:MEI) VP Timothy Glandon sold 39,183 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of C$35.02, for a total transaction of C$1,372,188.66. Following the completion of the transaction, the vice president now owns 40,205 shares in the company, valued at C$1,407,979.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Timothy Glandon also recently made the following trade(s):
- On Friday, July 1st, Timothy Glandon sold 4,000 shares of Methode Electronics stock. The stock was sold at an average price of C$34.62, for a total transaction of C$138,480.00.
- On Thursday, June 30th, Timothy Glandon sold 8,000 shares of Methode Electronics stock. The stock was sold at an average price of C$33.92, for a total transaction of C$271,360.00.
Methode Electronics Inc. (NYSE:MEI) opened at 35.41 on Thursday. Methode Electronics Inc. has a 1-year low of $23.83 and a 1-year high of $37.25. The firm’s 50-day moving average is $35.59 and its 200 day moving average is $31.84. The firm has a market cap of $1.31 billion, a PE ratio of 16.33 and a beta of 1.34.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.04. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. The business earned $191.90 million during the quarter, compared to the consensus estimate of $203.06 million. During the same quarter last year, the firm posted $0.60 EPS. The company’s quarterly revenue was down 5.6% on a year-over-year basis. On average, equities analysts forecast that Methode Electronics Inc. will post $2.30 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be issued a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, October 12th. Methode Electronics’s dividend payout ratio is 16.67%.
A number of research firms have recently issued reports on MEI. B. Riley restated a “buy” rating and issued a $44.50 price target on shares of Methode Electronics in a research report on Wednesday, September 7th. Robert W. Baird reiterated an “outperform” rating and issued a $46.00 price objective (up from $45.00) on shares of Methode Electronics in a research report on Tuesday, September 6th. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Tuesday, September 6th. Craig Hallum downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price objective on the stock. in a research report on Friday, September 2nd. Finally, FBR & Co reiterated an “outperform” rating and issued a $42.00 price objective on shares of Methode Electronics in a research report on Friday, June 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of C$22.48.
Large investors have recently made changes to their positions in the stock. Acrospire Investment Management LLC increased its stake in shares of 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 in the last quarter. Quantbot Technologies LP boosted 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 last quarter. Tower Research Capital LLC TRC purchased a new position in Methode Electronics during the second quarter valued at $138,000. BlackRock Inc. boosted 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 last quarter. Finally, PineBridge Investments L.P. boosted 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 last quarter. 92.09% of the stock is owned by institutional investors and hedge funds.
About Methode Electronics
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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