Key Points
- Director Steven Fisher sold 10,000 shares on Dec. 11 at an average of $19.11 for $191,100, cutting his stake by 24.7% to 30,482 shares; the sale was disclosed in an SEC Form 4.
- The company beat Q3 estimates with EPS of $0.10 (vs. $0.05 expected) and revenue of $144.31M; shares trade around $18.57 with a market cap of $377.4M and a P/E of 32.02.
- Analysts hold an average "Buy" rating with a consensus price target of $21.50, and institutional investors now own about 45.44% of the stock after several firms increased positions.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) Director Steven Fisher sold 10,000 shares of the business's 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 transaction, the director owned 30,482 shares in the company, valued at $582,511.02. The trade was a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Mayville Engineering Stock Down 0.3%
MEC stock opened at $18.57 on Tuesday. The company has a current ratio of 1.82, a quick ratio of 1.04 and a debt-to-equity ratio of 0.87. The firm has a 50-day moving average of $16.03 and a two-hundred day moving average of $15.44. Mayville Engineering Company, Inc. has a 12 month low of $11.72 and a 12 month high of $19.25. The company has a market cap of $377.37 million, a price-to-earnings ratio of 32.02 and a beta of 1.13.
Mayville Engineering (NYSE:MEC - Get Free Report) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $141.36 million. As a group, analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
MEC has been the subject of a number of analyst reports. Craig Hallum set a $24.00 price objective on shares of Mayville Engineering and gave the company a "buy" rating in a report on Tuesday, October 21st. Weiss Ratings reissued a "hold (c-)" rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $21.50.
Get Our Latest Analysis on Mayville Engineering
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its stake in shares of Mayville Engineering by 4.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 847,123 shares of the company's stock valued at $11,656,000 after acquiring an additional 33,089 shares during the period. Royce & Associates LP raised its position in Mayville Engineering by 1.4% in the third quarter. Royce & Associates LP now owns 566,717 shares of the company's stock valued at $7,798,000 after purchasing an additional 7,868 shares during the period. 22NW LP boosted its position in shares of Mayville Engineering by 157.2% during the third quarter. 22NW LP now owns 399,890 shares of the company's stock worth $5,502,000 after buying an additional 244,440 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Mayville Engineering by 894.2% during the third quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company's stock worth $5,424,000 after buying an additional 354,514 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of Mayville Engineering by 1.0% in the 3rd quarter. Blair William & Co. IL now owns 377,210 shares of the company's stock valued at $5,190,000 after buying an additional 3,762 shares during the period. Hedge funds and other institutional investors own 45.44% of the company's stock.
About Mayville Engineering
(
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.
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