Insider Selling: Methode Electronics Treasurer Sells 8,000 Shares of Stock (MEI)
Methode Electronics (NYSE:MEI) Treasurer Ronald L.G. Tsoumas unloaded 8,000 shares of the stock in a transaction that occurred on Tuesday, December 31st. The shares were sold at an average price of $34.20, for a total value of $273,600.00. Following the sale, the treasurer now directly owns 63,984 shares in the company, valued at approximately $2,188,253. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Methode Electronics (NYSE:MEI) traded up 0.67% during mid-day trading on Thursday, hitting $34.42. The stock had a trading volume of 339,381 shares. Methode Electronics has a 52 week low of $9.56 and a 52 week high of $37.53. The stock’s 50-day moving average is $30.67 and its 200-day moving average is $24.36. The company has a market cap of $1.287 billion and a price-to-earnings ratio of 27.73.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, December 5th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.16. The company had revenue of $190.90 million for the quarter, compared to the consensus estimate of $168.77 million. During the same quarter in the previous year, the company posted $0.13 earnings per share. The company’s revenue for the quarter was up 47.1% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, January 31st. Investors of record on Friday, January 17th will be paid a dividend of 0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Wednesday, January 15th.
Separately, analysts at Zacks downgraded shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a research note to investors on Wednesday, October 30th. They now have a $31.70 price target on the stock.
Methode Electronics, Inc, is a manufacturer of component and subsystem devices. The Company operates in four segments: automotive, interconnect, power products, and other.
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