Key Points
- Insider sale: EVP Ryan Raber sold 15,000 shares on November 25 at an average price of $16.68 for $250,200, trimming his position by 14.15% to 91,018 shares (about $1.52M).
- Mayville Engineering shares opened at $16.81, trade near their 50-/200-day moving averages of $15.08/$15.26, have a market cap of ~$341.6M, a PE of ~29, and a one-year range of $11.72–$19.05.
- Positive analyst/institutional backdrop: Consensus rating is "Buy" with an average target of $21.50 and recent upgrades (including Northland and Craig Hallum), while institutional investors own ~45.44% of the stock.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) EVP Ryan Raber sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $16.68, for a total transaction of $250,200.00. Following the completion of the sale, the executive vice president directly 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Mayville Engineering Trading Up 0.1%
MEC opened at $16.81 on Thursday. The business's 50 day moving average price is $15.08 and its 200 day moving average price is $15.26. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.82. The stock has a market capitalization of $341.58 million, a PE ratio of 28.98 and a beta of 1.21. Mayville Engineering Company, Inc. has a one year low of $11.72 and a one year high of $19.05.
Mayville Engineering (NYSE:MEC - Get Free Report) last announced its quarterly earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. The business had revenue of $144.31 million for the quarter, compared to analyst estimates of $141.36 million. Mayville Engineering had a return on equity of 5.88% and a net margin of 2.29%. Mayville Engineering has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Mayville Engineering Company, Inc. will post 0.31 EPS for the current year.
Hedge Funds Weigh In On Mayville Engineering
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its holdings in Mayville Engineering by 109.0% in the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company's stock valued at $38,000 after acquiring an additional 1,435 shares in the last quarter. AlphaQuest LLC lifted its position in shares of Mayville Engineering by 222.8% during the 1st quarter. AlphaQuest LLC now owns 7,879 shares of the company's stock worth $106,000 after purchasing an additional 5,438 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Mayville Engineering by 20.7% during the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company's stock worth $127,000 after purchasing an additional 1,359 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Mayville Engineering in the second quarter valued at $165,000. Finally, Victory Capital Management Inc. purchased a new position in Mayville Engineering in the first quarter valued at $180,000. 45.44% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts have recently commented on the company. Northland Capmk upgraded Mayville Engineering from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 12th. Craig Hallum set a $24.00 target price on Mayville Engineering and gave the company a "buy" rating in a research report on Tuesday, October 21st. Northland Securities raised shares of Mayville Engineering from a "market perform" rating to an "outperform" rating and set a $18.00 price target on the stock in a research report on Tuesday, August 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Mayville Engineering in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $21.50.
Check Out Our Latest Research Report on MEC
Mayville Engineering Company Profile
(
Get Free Report)
Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
