Key Points
- Mayville Engineering SVP Craig Nichols sold 4,000 shares on May 21 at an average price of $23.24, totaling $92,960. After the sale, he held just 146 shares, a 96.48% reduction in his position.
- Mayville Engineering recently beat quarterly expectations, reporting EPS of -$0.15 versus the -$0.28 consensus and revenue of $144.78 million, above estimates of $139.18 million.
- Analyst sentiment is generally positive, with four Buy ratings and an average price target of $29.75, while the stock most recently opened at $26.61 and has traded between $12.10 and $28.15 over the past 12 months.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) SVP Craig Nichols sold 4,000 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $23.24, for a total value of $92,960.00. Following the completion of the sale, the senior vice president owned 146 shares in the company, valued at $3,393.04. This represents a 96.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Mayville Engineering Price Performance
MEC stock opened at $26.61 on Wednesday. The business's fifty day moving average price is $21.22 and its 200 day moving average price is $19.55. The company has a current ratio of 1.64, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91. Mayville Engineering Company, Inc. has a 12-month low of $12.10 and a 12-month high of $28.15. The company has a market capitalization of $545.35 million, a PE ratio of -33.26 and a beta of 1.24.
Mayville Engineering (NYSE:MEC - Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.28) by $0.13. Mayville Engineering had a negative return on equity of 5.77% and a negative net margin of 2.93%.The company had revenue of $144.78 million for the quarter, compared to the consensus estimate of $139.18 million. On average, sell-side analysts anticipate that Mayville Engineering Company, Inc. will post -0.23 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of Mayville Engineering by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 926,216 shares of the company's stock valued at $16,625,000 after acquiring an additional 49,041 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Mayville Engineering by 10.2% in the 4th quarter. Royce & Associates LP now owns 624,307 shares of the company's stock valued at $11,687,000 after acquiring an additional 57,590 shares during the last quarter. EVR Research LP purchased a new position in shares of Mayville Engineering in the 4th quarter valued at about $11,326,000. Blair William & Co. IL increased its holdings in shares of Mayville Engineering by 54.8% in the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company's stock valued at $10,928,000 after acquiring an additional 206,549 shares during the last quarter. Finally, 22NW LP increased its holdings in shares of Mayville Engineering by 3.6% in the 4th quarter. 22NW LP now owns 414,280 shares of the company's stock valued at $7,755,000 after acquiring an additional 14,390 shares during the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on MEC shares. Citigroup upped their price target on Mayville Engineering from $25.00 to $33.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Weiss Ratings downgraded Mayville Engineering from a "hold (c-)" rating to a "sell (d+)" rating in a report on Thursday, March 5th. Zacks Research upgraded Mayville Engineering from a "strong sell" rating to a "hold" rating in a report on Friday, March 6th. Northland Securities set a $30.00 price target on Mayville Engineering in a report on Thursday, May 7th. Finally, DA Davidson upped their price target on Mayville Engineering from $23.00 to $32.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Mayville Engineering currently has an average rating of "Moderate Buy" and an average price target of $29.75.
Get Our Latest Stock Analysis on MEC
Mayville Engineering Company Profile
(
Get Free Report)
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.
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