Insider Selling: Methode Electronics Inc. (MEI) VP Sells 21,400 Shares of Stock

Methode Electronics Inc. (NYSE:MEI) VP Joseph Elias Khoury sold 21,400 shares of the business’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $40.30, for a total transaction of $862,420.00. Following the completion of the sale, the vice president now directly owns 267,200 shares in the company, valued at approximately $10,768,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of Methode Electronics Inc. (MEI) traded up $0.20 during trading hours on Thursday, hitting $40.50. 257,544 shares of the stock were exchanged, compared to its average volume of 223,333. The company has a market cap of $1,550.00, a price-to-earnings ratio of 16.60, a price-to-earnings-growth ratio of 1.05 and a beta of 0.78. Methode Electronics Inc. has a 1 year low of $36.05 and a 1 year high of $48.44. The company has a quick ratio of 3.22, a current ratio of 3.74 and a debt-to-equity ratio of 0.17.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.64. The firm had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.66 EPS. research analysts forecast that Methode Electronics Inc. will post 2.58 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a $0.11 dividend. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.09%. Methode Electronics’s dividend payout ratio is presently 14.75%.

Several analysts have recently issued reports on MEI shares. Zacks Investment Research raised shares of Methode Electronics from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Wednesday, October 18th. Robert W. Baird reissued a “buy” rating and issued a $46.00 price target on shares of Methode Electronics in a research report on Tuesday, October 17th. ValuEngine raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, September 30th. Finally, B. Riley reissued a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, December 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Methode Electronics currently has a consensus rating of “Hold” and an average target price of $49.50.

Large investors have recently modified their holdings of the company. Acrospire Investment Management LLC boosted its stake in shares of Methode Electronics by 22.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 500 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 1,396 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Methode Electronics in the 2nd quarter valued at $132,000. Victory Capital Management Inc. boosted its position in Methode Electronics by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock valued at $147,000 after buying an additional 536 shares during the period. Finally, Quantbot Technologies LP purchased a new stake in Methode Electronics during the 2nd quarter valued at $156,000. 86.66% of the stock is currently owned by hedge funds and other institutional investors.

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Methode Electronics Company Profile

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

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