Key Points
- Insider sale: Mayville Engineering SVP Sean Leuba sold 12,855 shares at an average price of $25.44, totaling $327,031.20. His remaining ownership fell by 65.96% to 6,633 shares.
- Quarterly results beat estimates: MEC reported earnings of $0.07 per share versus analysts’ expected loss of $0.05, while revenue reached $162.98 million compared with the $150.59 million consensus estimate.
- Analyst outlook remains positive: The stock carries a “Moderate Buy” consensus rating with an average price target of $35.75, although the company continues to report negative net margins and analysts expect a full-year loss.
Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) SVP Sean Leuba sold 12,855 shares of Mayville Engineering stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $25.44, for a total transaction of $327,031.20. Following the transaction, the senior vice president directly owned 6,633 shares of the company's stock, valued at approximately $168,743.52. This trade represents a 65.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Mayville Engineering Stock Performance
MEC opened at $24.09 on Friday. The firm has a fifty day moving average price of $32.11 and a 200 day moving average price of $24.80. Mayville Engineering Company, Inc. has a 1 year low of $12.25 and a 1 year high of $38.76. The stock has a market cap of $493.52 million, a P/E ratio of -28.67 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.91.
Mayville Engineering (NYSE:MEC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.12. The company had revenue of $162.98 million during the quarter, compared to analysts' expectations of $150.59 million. Mayville Engineering had a negative net margin of 2.95% and a negative return on equity of 6.63%. Equities research analysts anticipate that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current year.
Wall Street Analysts Forecast Growth
MEC has been the topic of a number of recent analyst reports. DA Davidson increased their price target on Mayville Engineering from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday, July 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Mayville Engineering in a research report on Friday, July 10th. Northland Securities set a $40.00 target price on Mayville Engineering in a research note on Thursday. Finally, Citigroup upped their target price on Mayville Engineering from $33.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Four 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $35.75.
Read Our Latest Report on MEC
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the stock. Royce & Associates LP raised its stake in 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 purchasing an additional 57,590 shares during the last quarter. UBS Group AG boosted its stake in shares of Mayville Engineering by 38.6% in the fourth quarter. UBS Group AG now owns 146,552 shares of the company's stock valued at $2,743,000 after purchasing an additional 40,798 shares during the period. Congruence Capital LLC purchased a new stake in shares of Mayville Engineering during the fourth quarter worth $3,896,000. North Star Investment Management Corp. purchased a new stake in Mayville Engineering during the 1st quarter worth about $538,000. Finally, EVR Research LP acquired a new stake in Mayville Engineering in the 4th quarter valued at about $11,326,000. Institutional investors and hedge funds own 45.44% of the company's stock.
About Mayville Engineering
(
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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