Key Points
- CEO Jagadeesh Reddy sold 17,942 shares of Mayville Engineering at $30.00 each, generating about $538,260 and reducing his ownership by 11.33% to 140,445 shares.
- Mayville Engineering’s latest quarter beat expectations, reporting an EPS loss of $0.15 versus the expected $0.28 loss, while revenue of $144.78 million also topped estimates.
- Analysts remain cautiously positive: several firms raised price targets, and MarketBeat says the stock now carries a “Moderate Buy” rating with an average target of $29.75.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) CEO Jagadeesh Reddy sold 17,942 shares of the stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $538,260.00. Following the transaction, the chief executive officer owned 140,445 shares in the company, valued at approximately $4,213,350. This represents a 11.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.
Mayville Engineering Price Performance
NYSE MEC opened at $32.31 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 1.64. The firm's 50 day moving average price is $22.06 and its 200-day moving average price is $19.86. Mayville Engineering Company, Inc. has a 52-week low of $12.10 and a 52-week high of $32.50. The company has a market cap of $662.09 million, a PE ratio of -40.39 and a beta of 1.29.
Mayville Engineering (NYSE:MEC - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.28) by $0.13. Mayville Engineering had a negative net margin of 2.93% and a negative return on equity of 5.77%. The firm had revenue of $144.78 million for the quarter, compared to the consensus estimate of $139.18 million. Sell-side analysts forecast that Mayville Engineering Company, Inc. will post -0.23 EPS for the current fiscal year.
Institutional Investors Weigh In On Mayville Engineering
Several institutional investors and hedge funds have recently made changes to their positions in MEC. BNP Paribas Financial Markets lifted its stake in shares of Mayville Engineering by 109.0% during the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company's stock worth $38,000 after buying an additional 1,435 shares during the period. Clearstead Advisors LLC lifted its stake in shares of Mayville Engineering by 194.9% during the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company's stock worth $39,000 after buying an additional 1,384 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of Mayville Engineering during the fourth quarter worth $73,000. Picton Mahoney Asset Management acquired a new stake in shares of Mayville Engineering during the fourth quarter worth $109,000. Finally, AlphaQuest LLC lifted its stake in shares of Mayville Engineering by 26.2% during the third quarter. AlphaQuest LLC now owns 8,342 shares of the company's stock worth $115,000 after buying an additional 1,733 shares during the period. 45.44% of the stock is currently owned by institutional investors and hedge funds.
More Mayville Engineering News
Here are the key news stories impacting Mayville Engineering this week:
- Positive Sentiment: Northland Securities raised multiple EPS estimates for Mayville Engineering, including FY2027 to $0.88 from $0.83 and FY2028 to $1.07 from $1.06, signaling improving profit expectations and a potentially stronger outlook for MEC.
- Positive Sentiment: Mayville Engineering was named the number one fabricator for the sixteenth consecutive year, reinforcing the company’s reputation and competitive position in its industry. Mayville Engineering Company Named Number One Fabricator for Sixteenth Consecutive Year
- Neutral Sentiment: Northland also nudged up near-term quarterly estimates for Q4 2026, Q1 2027, Q2 2027, and Q3 2027, which suggests analysts see steadier earnings improvement ahead, though the current fiscal year is still expected to be in the red.
- Neutral Sentiment: CEO Jagadeesh A. Reddy sold 17,942 shares at $30 each, trimming his holdings by about 11.3%. While insider selling can sometimes worry investors, the transaction does not necessarily indicate a change in business fundamentals. SEC Form 4
- Neutral Sentiment: An additional article reviewed MEC’s Q1 earnings versus peers, but it did not include a major new catalyst beyond the company’s previously reported beat on EPS and revenue.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on the stock. Citigroup raised their target price on shares of Mayville Engineering from $25.00 to $33.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Weiss Ratings downgraded shares of Mayville Engineering from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, March 5th. DA Davidson raised their target price on shares of Mayville Engineering from $23.00 to $32.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Mayville Engineering from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Finally, Northland Securities set a $30.00 target price on shares of Mayville Engineering in a research note on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $29.75.
View Our Latest Report 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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