There has been some buying and selling insider activity on Methode Electronics, Inc. Commo (NYSE:MEI) recently. Today Lawrence B. Skatoff, Director disclosed the sale of 500 shares of MEI stock. The shares were purchased at an average price of $34.92. Skatoff now owns $1,374,102 of the stock according to the SEC filing. Paul G. Shelton, Director reported the sale of 2,000 shares. The shares were sold on August 24th for an average price of $36.99. The Director now owns $184,950 of the stock per the Form 4 SEC filing.
Donald W. Duda, CEO purchased $0 worth of shares at an average price of $0.00 on July 1st. That brings the CEO’s holdings to $0 as recorded in a recent Form 4 SEC filing.
Here are some other firms who have updated their holdings. As of the end of the quarter Mason Street Advisors, LLC had bought a total of 1,015 shares growing its stake by 16.4%. The value of the investment in Methode Electronics, Inc. Commo increased from $197,000 to $247,000 a change of $50,000 for the reporting period. As of quarter end Royal Bank Of Canada had acquired 17,703 shares growing its holdings by 442.9%. The value of the investment in (MEI) went from $117,000 to $743,000 increasing 535.0% since the last quarter.
As of the end of the quarter Schwab Charles Investment Management Inc had bought 15,276 shares growing its position 9.7%. The value in dollars increased from $4,997,000 to $5,897,000 a change of 18.0% quarter to quarter. As of the end of the quarter Elk Creek Partners, LLC had disposed of a total of 35,966 shares trimming its holdings by 17.8%. The value of the investment in MEI decreased from $5,896,000 to $5,671,000 a change of 3.8% quarter over quarter.
On June 24, 2016 the stock rating was set at “Outperform” by Baird up from the previous “Neutral” rating. On September 4 the company was upgraded from “Hold” to “Buy” with a current price target of $40.00 in a statement from Craig-Hallum.
Craig-Hallum raised the price target and upgraded the stock on September 4 boosting the price target from $32.00 to $40.00 and altering the rating from “Hold” to “Buy”. On June 16 the company was rated “Neutral” according to a Baird report a cut from the previous “Buy” rating.
On May 2, 2014 FBR Capital issued its first research report on the stock by announcing an initial rating of “Outperform” and price target of $37.00.
In the market the company is trading up since yesterday’s close of $34.96. Additionally the company declared a dividend that was paid on Fri Jul 29, 2016. The dividend was $0.090 per share for the quarter which comes to $0.36 on an annualized basis. This dividend represents a yeild of $1.03 which is the dividend as a percentage of the current share price. The ex-dividend date was set for Wednesday the 13th of July 2016.
It is trading at $35.21 just below $35.63, the 50 day moving average and marginally over the 200 day moving average of $31.76. The 50 day moving average was down $-0.42 or -1.19% and the 200 day average was up $3.45.
The P/E ratio is 16.24 and the market value is 1.30B. In the latest earnings report the EPS was $2.17 and is expected to be $2.30 for the current year with 36,953,000 shares now outstanding. Analysts expect next quarter’s EPS will be $0.53 with next year’s EPS projected to be $2.69.