Methode Electronics Inc. (NYSE:MEI) CAO Amit N. Patel purchased 1,021 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $27.54 per share, with a total value of $28,118.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
NYSE MEI traded up $0.15 on Friday, hitting $29.90. 175,553 shares of the company were exchanged, compared to its average volume of 240,539. Methode Electronics Inc. has a twelve month low of $20.99 and a twelve month high of $45.45. The company has a market cap of $1.11 billion, a PE ratio of 9.97 and a beta of 1.45. The company has a current ratio of 2.53, a quick ratio of 1.83 and a debt-to-equity ratio of 0.43.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, March 7th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.23. The firm had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $259.29 million. Methode Electronics had a return on equity of 18.64% and a net margin of 10.76%. The company’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.65 earnings per share. Research analysts forecast that Methode Electronics Inc. will post 2.89 EPS for the current fiscal year.
Several large investors have recently made changes to their positions in MEI. Tributary Capital Management LLC boosted its holdings in Methode Electronics by 25.6% during the first quarter. Tributary Capital Management LLC now owns 510,498 shares of the electronics maker’s stock worth $14,692,000 after buying an additional 104,067 shares during the last quarter. Chartwell Investment Partners LLC increased its position in shares of Methode Electronics by 0.8% during the 1st quarter. Chartwell Investment Partners LLC now owns 75,078 shares of the electronics maker’s stock worth $2,161,000 after purchasing an additional 615 shares during the last quarter. Roubaix Capital LLC acquired a new position in shares of Methode Electronics during the 1st quarter worth approximately $3,853,000. Geode Capital Management LLC increased its position in shares of Methode Electronics by 12.3% during the 4th quarter. Geode Capital Management LLC now owns 397,812 shares of the electronics maker’s stock worth $9,265,000 after purchasing an additional 43,558 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Methode Electronics during the 4th quarter worth approximately $17,166,000. Institutional investors own 97.34% of the company’s stock.
MEI has been the subject of several recent research reports. Craig Hallum upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $42.00 in a research note on Friday, March 8th. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Thursday, March 7th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $40.25.
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About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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