Methode Electronics Inc. (NYSE:MEI) Director Purchases $28,422.00 in Stock
Methode Electronics Inc. (NYSE:MEI) Director Bruce K. Crowther acquired 900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was bought at an average price of $31.58 per share, for a total transaction of $28,422.00. Following the acquisition, the director now owns 3,900 shares of the company’s stock, valued at approximately $123,162. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of MEI traded up $0.86 during trading hours on Friday, hitting $34.16. The company had a trading volume of 16,372 shares, compared to its average volume of 196,981. The firm has a market cap of $1.17 billion, a P/E ratio of 11.53 and a beta of 1.43. The stock’s 50 day moving average price is $28.78 and its 200 day moving average price is $28.40. The company has a quick ratio of 1.86, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Methode Electronics Inc. has a 52-week low of $20.99 and a 52-week high of $39.90.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, August 29th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. Methode Electronics had a return on equity of 16.39% and a net margin of 9.19%. The company had revenue of $270.20 million for the quarter, compared to the consensus estimate of $268.15 million. During the same quarter in the previous year, the business earned $0.63 EPS. Methode Electronics’s revenue was up 20.9% compared to the same quarter last year. On average, research analysts expect that Methode Electronics Inc. will post 3.33 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the stock. Atria Investments LLC bought a new stake in shares of Methode Electronics in the 2nd quarter worth approximately $54,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Methode Electronics by 111.2% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,077 shares of the electronics maker’s stock valued at $88,000 after acquiring an additional 1,620 shares in the last quarter. United Services Automobile Association lifted its position in Methode Electronics by 71.7% in the 2nd quarter. United Services Automobile Association now owns 107,024 shares of the electronics maker’s stock valued at $3,058,000 after acquiring an additional 44,700 shares in the last quarter. ClariVest Asset Management LLC lifted its position in Methode Electronics by 67.7% in the 2nd quarter. ClariVest Asset Management LLC now owns 129,132 shares of the electronics maker’s stock valued at $3,690,000 after acquiring an additional 52,132 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its position in Methode Electronics by 1,664.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 300,153 shares of the electronics maker’s stock valued at $8,575,000 after acquiring an additional 283,143 shares in the last quarter. Institutional investors own 92.53% of the company’s stock.
Methode Electronics Company Profile
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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