Key Points
- EVP Ryan Raber sold 20,000 shares of Mayville Engineering stock at an average price of $26.00, totaling about $520,000. After the sale, he still owned 86,970 shares.
- Mayville Engineering recently beat earnings expectations, reporting a smaller-than-expected quarterly loss of $0.15 per share on revenue of $144.78 million, topping analyst forecasts.
- Wall Street sentiment is generally positive, with analysts holding a consensus Moderate Buy rating and an average price target of $29.75, while institutional investors own about 45.44% of the company.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) EVP Ryan Raber sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the transaction, the executive vice president owned 86,970 shares in the company, valued at $2,261,220. The trade was a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Mayville Engineering Stock Performance
NYSE:MEC opened at $27.08 on Thursday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 0.91. The firm has a market capitalization of $554.87 million, a price-to-earnings ratio of -33.85 and a beta of 1.24. The company's 50-day moving average is $21.41 and its two-hundred day moving average is $19.62. Mayville Engineering Company, Inc. has a 1-year low of $12.10 and a 1-year high of $28.15.
Mayville Engineering (NYSE:MEC - Get Free Report) last posted its earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.13. The company had revenue of $144.78 million for the quarter, compared to analyst estimates of $139.18 million. Mayville Engineering had a negative net margin of 2.93% and a negative return on equity of 5.77%. Analysts forecast that Mayville Engineering Company, Inc. will post -0.23 EPS for the current year.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on MEC. DA Davidson boosted their target price on shares of Mayville Engineering from $23.00 to $32.00 and gave the company a "buy" rating in a report on Monday, May 11th. Weiss Ratings lowered shares of Mayville Engineering from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, March 5th. Northland Securities set a $30.00 target price on shares of Mayville Engineering in a research note on Thursday, May 7th. Citigroup increased their target price on shares of Mayville Engineering from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of Mayville Engineering from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.75.
Get Our Latest Stock Analysis on Mayville Engineering
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. EVR Research LP acquired a new position in Mayville Engineering in the 4th quarter valued at about $11,326,000. Ameriprise Financial Inc. grew its position in Mayville Engineering by 894.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company's stock valued at $5,424,000 after acquiring an additional 354,514 shares in the last quarter. 22NW LP grew its position in Mayville Engineering by 157.2% in the 3rd quarter. 22NW LP now owns 399,890 shares of the company's stock valued at $5,502,000 after acquiring an additional 244,440 shares in the last quarter. Congruence Capital LLC acquired a new position in Mayville Engineering in the 4th quarter valued at about $3,896,000. Finally, Blair William & Co. IL grew its position in 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 in the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.
Mayville Engineering Company Profile
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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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