Insider Selling: Methode Electronics Treasurer Sells 17,316 Shares of Stock (MEI)
Methode Electronics (NYSE:MEI) Treasurer Ronald L.G. Tsoumas sold 17,316 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $37.71, for a total value of $652,986.36. Following the completion of the transaction, the treasurer now directly owns 54,669 shares in the company, valued at approximately $2,061,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. 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 (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 one year low of $17.01 and a one year 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 price-to-earnings ratio of 14.84.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, June 26th. The company reported $1.25 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.24 earnings per share. The company’s revenue for the quarter was up 51.7% on a year-over-year basis. On average, analysts predict that Methode Electronics will post $1.97 earnings per share 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.
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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