Methode Electronics Inc. (MEI) VP Sells C$1,372,188.66 in Stock
Methode Electronics Inc. (NYSE:MEI) VP Timothy Glandon sold 39,183 shares of the business’s stock in a transaction that occurred on Tuesday, September 27th. The shares were 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 of the company’s stock, valued at C$1,407,979.10. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Timothy Glandon also recently made the following trade(s):
- On Friday, July 1st, Timothy Glandon sold 4,000 shares of Methode Electronics stock. The shares were 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 shares were sold at an average price of C$33.92, for a total transaction of C$271,360.00.
Shares of Methode Electronics Inc. (NYSE:MEI) opened at 35.21 on Wednesday. The firm’s 50-day moving average is $35.61 and its 200-day moving average is $31.81. The company has a market capitalization of $1.30 billion, a price-to-earnings 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.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, September 1st. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The firm earned $191.90 million during the quarter, compared to analyst estimates of $203.06 million. Methode Electronics had a net margin of 10.31% and a return on equity of 17.70%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. On average, equities analysts predict that Methode Electronics Inc. will post $2.30 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Shareholders 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 dividend on an annualized basis and a yield of 1.02%. Methode Electronics’s dividend payout ratio is presently 16.67%.
A number of equities analysts recently issued reports on the stock. B. Riley reiterated a “buy” rating and set a $44.50 price objective on shares of Methode Electronics in a research report on Wednesday, September 7th. Robert W. Baird reiterated an “outperform” rating and set 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 cut shares of Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research report on Friday, September 2nd. Finally, FBR & Co reiterated an “outperform” rating and set a $42.00 price objective on shares of Methode Electronics in a research report on Friday, June 24th. One research 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. Methode Electronics currently has a consensus rating of “Hold” and a consensus target price of C$22.48.
Institutional investors have recently modified their holdings of the company. Acrospire Investment Management LLC raised its position 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 worth $118,000 after buying an additional 1,600 shares in the last quarter. Quantbot Technologies LP raised its position in shares of Methode Electronics by 140.4% in the second quarter. Quantbot Technologies LP now owns 3,895 shares of the company’s stock worth $133,000 after buying an additional 2,275 shares in the last quarter. Tower Research Capital LLC TRC acquired a new position in shares of Methode Electronics during the second quarter worth $138,000. BlackRock Inc. raised its position in shares of Methode Electronics by 76.9% in the second quarter. BlackRock Inc. now owns 4,419 shares of the company’s stock worth $152,000 after buying an additional 1,921 shares in the last quarter. Finally, PineBridge Investments L.P. raised its position in shares of Methode Electronics by 3.5% in the second quarter. PineBridge Investments L.P. now owns 4,681 shares of the company’s stock worth $160,000 after buying an additional 159 shares in the last quarter. Hedge funds and other 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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