Methode Electronics CFO Douglas A. Koman Unloads 37,334 Shares (MEI)
Methode Electronics (NYSE:MEI) CFO Douglas A. Koman sold 37,334 shares of Methode Electronics stock on the open market in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $37.34, for a total value of $1,394,051.56. Following the completion of the sale, the chief financial officer now directly owns 170,009 shares of the company’s stock, valued at approximately $6,348,136. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 issued its quarterly earnings data on Thursday, June 26th. The company reported $1.25 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue 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 announced a quarterly dividend, which is scheduled for Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Wednesday, July 16th.
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, 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.