Methode Electronics Inc. (NYSE:MEI) declared a quarterly dividend on Tuesday, September 20th. Shareholders of record on Friday, October 14th will be given a dividend of 0.09 per share on Friday, October 28th. This represents a $0.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, October 12th.
Methode Electronics (NYSE:MEI) opened at 35.69 on Tuesday. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 16.46 and a beta of 1.14. Methode Electronics has a 12-month low of $23.83 and a 12-month high of $37.25. The firm’s 50-day moving average price is $35.40 and its 200 day moving average price is $32.28.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Methode Electronics had a net margin of 10.31% and a return on equity of 17.70%. The business earned $191.90 million during the quarter, compared to the consensus estimate of $203.06 million. During the same period in the previous year, the business earned $0.60 earnings per share. The company’s revenue was down 5.6% on a year-over-year basis. On average, analysts expect that Methode Electronics will post $2.30 earnings per share for the current year.
MEI has been the subject of several research analyst reports. Craig Hallum downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price objective for the company. in a research report on Friday, September 2nd. Robert W. Baird restated an “outperform” rating and set a $45.00 price objective on shares of Methode Electronics in a research report on Wednesday, August 31st. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research report on Wednesday, August 31st. FBR & Co restated an “outperform” rating and set a $42.00 price objective on shares of Methode Electronics in a research report on Friday, June 24th. Finally, B. Riley restated a “buy” rating and set a $44.50 price objective on shares of Methode Electronics in a research report on Wednesday, September 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of “Hold” and a consensus price target of C$22.48.
In related news, VP Timothy Glandon sold 39,183 shares of the stock in a transaction on Tuesday, September 27th. The stock was sold at an average price of C$35.02, for a total value of C$1,372,188.66. Following the completion of the sale, the vice president now directly owns 40,205 shares in the company, valued at C$1,407,979.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul G. Shelton sold 2,000 shares of the stock in a transaction on Wednesday, August 24th. The shares were sold at an average price of C$36.99, for a total value of C$73,980.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. BlackRock Advisors LLC increased its stake in Methode Electronics by 0.6% in the second quarter. BlackRock Advisors LLC now owns 17,608 shares of the company’s stock worth $603,000 after buying an additional 101 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in shares of Methode Electronics by 4.1% in the second quarter. BlackRock Investment Management LLC now owns 155,762 shares of the company’s stock worth $5,332,000 after buying an additional 6,081 shares during the period. BlackRock Inc. boosted its stake in shares of Methode Electronics by 76.9% in the second quarter. BlackRock Inc. now owns 4,419 shares of the company’s stock worth $152,000 after buying an additional 1,921 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Methode Electronics by 0.5% in the second quarter. BlackRock Fund Advisors now owns 2,328,399 shares of the company’s stock worth $79,701,000 after buying an additional 10,642 shares during the period. Finally, BlackRock Group LTD boosted its stake in shares of Methode Electronics by 6.8% in the second quarter. BlackRock Group LTD now owns 40,421 shares of the company’s stock worth $1,384,000 after buying an additional 2,589 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.
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.
Receive News & Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.