Methode Electronics Inc. (MEI) Director Lawrence B. Skatoff Sells 500 Shares of Stock
Methode Electronics Inc. (NYSE:MEI) Director Lawrence B. Skatoff sold 500 shares of Methode Electronics stock in a transaction dated Friday, September 23rd. The stock was 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 of the company’s stock, valued at approximately C$1,374,102. The transaction was disclosed in a document filed with the SEC, which is available at this link.
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 stock has a 50 day moving average price of $35.59 and a 200 day moving average price of $31.84. The firm has a market capitalization of $1.31 billion, a price-to-earnings ratio of 16.33 and a beta of 1.34.
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 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 company had revenue of $191.90 million for the quarter, compared to analyst estimates of $203.06 million. During the same period in the prior year, the firm posted $0.60 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. Analysts predict that Methode Electronics Inc. will post $2.30 EPS for the current year.
The company 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 $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 1.02%. The ex-dividend date is Wednesday, October 12th. Methode Electronics’s payout ratio is currently 16.67%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Glenmede Trust Co. NA raised its position in shares of Methode Electronics by 1,880.0% in the second quarter. Glenmede Trust Co. NA now owns 839,378 shares of the company’s stock valued at $28,731,000 after buying an additional 796,985 shares during the last quarter. Penn Capital Management Co. Inc. raised its position in shares of Methode Electronics by 205.7% in the second quarter. Penn Capital Management Co. Inc. now owns 768,154 shares of the company’s stock valued at $26,330,000 after buying an additional 516,876 shares during the last quarter. Norges Bank purchased a new position in shares of Methode Electronics during the fourth quarter valued at $11,873,000. Emerald Acquisition Ltd. purchased a new position in shares of Methode Electronics during the second quarter valued at $11,261,000. Finally, Royce & Associates LP raised its position in shares of Methode Electronics by 37.3% in the first quarter. Royce & Associates LP now owns 965,606 shares of the company’s stock valued at $28,234,000 after buying an additional 262,150 shares during the last quarter. 92.09% of the stock is currently owned by institutional investors.
MEI has been the subject of a number of recent research reports. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, June 10th. B. Riley reiterated a “buy” rating and set a $44.50 price objective on shares of Methode Electronics in a research report on Tuesday, June 21st. Robert W. Baird upgraded Methode Electronics from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $35.00 to $45.00 in a research report on Friday, June 24th. 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. Finally, Craig Hallum cut 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. One research analyst has rated the stock with a sell rating, four have issued 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 a consensus price target of C$22.48.
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.
Receive News & Stock Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related stocks with our FREE daily email newsletter.