Mayville Engineering Company, Inc. (NYSE:MEC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been assigned a consensus rating of “Hold” from the six ratings firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $22.75.

Several research analysts have recently weighed in on MEC shares. Craig Hallum set a $24.00 price target on Mayville Engineering and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Zacks Research lowered shares of Mayville Engineering from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a research note on Thursday, January 22nd. Citigroup boosted their price target on shares of Mayville Engineering from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, January 12th. Finally, Northland Securities downgraded shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a report on Monday, January 5th.

Insider Buying and Selling at Mayville Engineering

In other news, Director Steven L. Fisher sold 10,000 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $19.11, for a total value of $191,100.00. Following the completion of the transaction, the director directly owned 30,482 shares of the company’s stock, valued at $582,511.02. This trade represents a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ryan F. Raber sold 15,000 shares of Mayville Engineering stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $16.68, for a total value of $250,200.00. Following the completion of the transaction, the executive vice president owned 91,018 shares of the company’s stock, valued at approximately $1,518,180.24. This trade represents a 14.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Mayville Engineering

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC boosted its position in shares of Mayville Engineering by 7.3% in the first quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock valued at $1,319,000 after acquiring an additional 6,694 shares during the period. Jane Street Group LLC boosted its holdings in Mayville Engineering by 158.6% in the 1st quarter. Jane Street Group LLC now owns 47,194 shares of the company’s stock valued at $634,000 after purchasing an additional 28,946 shares during the period. Blair William & Co. IL grew its position in shares of Mayville Engineering by 304.8% during the 2nd quarter. Blair William & Co. IL now owns 373,448 shares of the company’s stock valued at $5,960,000 after purchasing an additional 281,198 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Mayville Engineering by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 354,075 shares of the company’s stock worth $5,651,000 after purchasing an additional 2,200 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Mayville Engineering by 9.5% in the second quarter. Geode Capital Management LLC now owns 318,321 shares of the company’s stock worth $5,081,000 after buying an additional 27,552 shares in the last quarter. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Trading Up 2.8%

Shares of MEC stock opened at $18.92 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. The firm has a market cap of $384.45 million, a P/E ratio of 32.62 and a beta of 1.08. The company has a 50 day moving average of $18.00 and a 200-day moving average of $16.05. Mayville Engineering has a 12-month low of $11.72 and a 12-month high of $19.82.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Mayville Engineering had a return on equity of 5.88% and a net margin of 2.29%.The business had revenue of $144.31 million for the quarter, compared to the consensus estimate of $141.36 million. Sell-side analysts anticipate that Mayville Engineering will post 0.31 earnings per share for the current year.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE:MEC) is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.