Methode Electronics, Inc. (NYSE:MEI) VP Timothy Glandon sold 12,000 shares of the stock in a transaction dated Thursday, March 18th. The shares were sold at an average price of $45.65, for a total value of $547,800.00. Following the completion of the transaction, the vice president now directly owns 42,000 shares in the company, valued at $1,917,300. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of NYSE MEI traded down $1.38 during midday trading on Monday, hitting $42.58. The stock had a trading volume of 230,892 shares, compared to its average volume of 199,546. The company has a market capitalization of $1.64 billion, a PE ratio of 12.45 and a beta of 1.28. The stock has a 50 day simple moving average of $40.85 and a 200-day simple moving average of $35.82. Methode Electronics, Inc. has a 1 year low of $21.76 and a 1 year high of $47.01. The company has a quick ratio of 2.83, a current ratio of 3.43 and a debt-to-equity ratio of 0.39.
Methode Electronics (NYSE:MEI) last released its earnings results on Wednesday, March 3rd. The electronics maker reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.04. The business had revenue of $295.30 million for the quarter, compared to the consensus estimate of $277.72 million. Methode Electronics had a return on equity of 16.19% and a net margin of 13.22%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.05 earnings per share. As a group, analysts expect that Methode Electronics, Inc. will post 2.91 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Friday, April 16th will be given a $0.11 dividend. The ex-dividend date is Thursday, April 15th. This represents a $0.44 annualized dividend and a dividend yield of 1.03%. Methode Electronics's dividend payout ratio (DPR) is presently 14.10%.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Methode Electronics by 11.1% during the fourth quarter. BlackRock Inc. now owns 6,036,730 shares of the electronics maker's stock worth $231,086,000 after buying an additional 602,926 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in Methode Electronics by 49.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,116,546 shares of the electronics maker's stock worth $31,822,000 after buying an additional 367,882 shares in the last quarter. Ariel Investments LLC lifted its position in Methode Electronics by 11.2% during the fourth quarter. Ariel Investments LLC now owns 1,025,932 shares of the electronics maker's stock worth $39,273,000 after buying an additional 103,327 shares in the last quarter. Clark Capital Management Group Inc. lifted its position in Methode Electronics by 16.9% during the fourth quarter. Clark Capital Management Group Inc. now owns 818,391 shares of the electronics maker's stock worth $31,328,000 after buying an additional 118,082 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC lifted its position in Methode Electronics by 35.3% during the fourth quarter. Neumeier Poma Investment Counsel LLC now owns 756,985 shares of the electronics maker's stock worth $28,977,000 after buying an additional 197,685 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company's stock.
Separately, Zacks Investment Research downgraded Methode Electronics from a "buy" rating to a "hold" rating and set a $45.00 price target on the stock. in a research report on Tuesday, March 2nd.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices 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.
See Also: Quick Ratio
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