Methode Electronics CFO Unloads $2,047,800 in Stock (MEI)
Methode Electronics (NYSE:MEI) CFO Douglas Koman unloaded 60,000 shares of Methode Electronics stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $34.13, for a total transaction of $2,047,800.00. Following the transaction, the chief financial officer now directly owns 170,009 shares in the company, valued at approximately $5,802,407. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
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.
Shares of Methode Electronics (NYSE:MEI) traded up 0.67% on Thursday, hitting $34.42. 339,381 shares of the company’s stock traded hands. Methode Electronics has a 52-week low of $9.56 and a 52-week high of $37.53. The stock has a 50-day moving average of $30.67 and a 200-day moving average of $24.36. The company has a market cap of $1.287 billion and a P/E ratio of 27.73.
Methode Electronics (NYSE:MEI) last posted its quarterly 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 prior year, the company posted $0.13 earnings per share. The company’s quarterly revenue was up 47.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 31st. Stockholders of record on Friday, January 17th will be given a dividend of 0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Wednesday, January 15th.
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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