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Methode Electronics (NYSE:MEI) CEO Donald W. Duda sold 154,024 shares of the stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $37.36, for a total transaction of $5,754,336.64. Following the completion of the transaction, the chief executive officer now directly owns 565,000 shares of the company’s stock, valued at approximately $21,108,400. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Methode Electronics (NYSE:MEI) traded up 3.46% on Thursday, hitting $38.53. The stock had a trading volume of 241,158 shares. Methode Electronics has a 52-week low of $17.01 and a 52-week high of $38.40. The stock’s 50-day moving average is $32.31 and its 200-day moving average is $32.02. The company has a market cap of $1.461 billion and a P/E ratio of 14.84.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, June 26th. The company reported $1.25 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.71. The company had revenue of $224.90 million for the quarter, compared to the consensus estimate of $198.38 million. During the same quarter last year, the company posted $0.24 earnings per share. Methode Electronics’s revenue was up 51.7% compared to the same quarter last year. Analysts expect that Methode Electronics will post $1.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Wednesday, July 16th.

MEI has been the subject of a number of recent research reports. Analysts at FBR Capital Markets raised their price target on shares of Methode Electronics from $37.00 to $44.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Methode Electronics from $38.00 to $41.00 in a research note on Friday, June 27th. They now have an “outperform” rating on the stock.

Methode Electronics, Inc is a manufacturer of component and subsystem devices with manufacturing, designs and testing facilities in China, Egypt, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.

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