Methode Electronics Inc. (NYSE:MEI) CAO Amit N. Patel Buys 1,021 Shares

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.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Thursday, April 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.47%. Methode Electronics’s dividend payout ratio (DPR) is presently 14.67%.

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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