Mayville Engineering Company, Inc. (NYSE:MEC) Given Average Recommendation of “Hold” by Analysts

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been given a consensus recommendation of “Hold” by the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $22.75.

A number of brokerages recently issued reports on MEC. Northland Securities cut Mayville Engineering from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a report on Monday, January 5th. Zacks Research cut Mayville Engineering from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Citigroup upped their target price on Mayville Engineering from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a research report on Thursday, January 22nd.

Mayville Engineering Stock Performance

Shares of MEC stock opened at $22.10 on Monday. The firm’s 50 day moving average is $19.37 and its 200 day moving average is $16.64. The stock has a market capitalization of $449.11 million, a P/E ratio of 38.11 and a beta of 1.09. Mayville Engineering has a 12 month low of $11.72 and a 12 month high of $22.36. The company has a current ratio of 1.82, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, Director Steven L. Fisher sold 10,000 shares of Mayville Engineering stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $19.11, for a total transaction of $191,100.00. Following the completion of the sale, the director owned 30,482 shares of the company’s stock, valued at $582,511.02. The trade was a 24.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ryan F. Raber sold 15,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president owned 91,018 shares of the company’s stock, valued at $1,518,180.24. The trade was a 14.15% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On Mayville Engineering

Several institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its holdings in Mayville Engineering by 109.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after acquiring an additional 1,435 shares during the last quarter. Clearstead Advisors LLC grew its stake in shares of Mayville Engineering by 194.9% in the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock worth $39,000 after purchasing an additional 1,384 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Mayville Engineering in the fourth quarter worth about $73,000. Picton Mahoney Asset Management purchased a new position in Mayville Engineering during the 4th quarter valued at about $109,000. Finally, AlphaQuest LLC raised its position in Mayville Engineering by 26.2% during the 3rd quarter. AlphaQuest LLC now owns 8,342 shares of the company’s stock valued at $115,000 after purchasing an additional 1,733 shares during the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

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.