Mayville Engineering Company, Inc. (NYSE:MEC – Get Free Report) SVP Sean Leuba sold 12,855 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $25.44, for a total value of $327,031.20. Following the sale, the senior vice president directly owned 6,633 shares of the company’s stock, valued at $168,743.52. This 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 hyperlink.
Mayville Engineering Price Performance
MEC traded down $0.74 during trading on Friday, hitting $24.09. The company’s stock had a trading volume of 783,767 shares, compared to its average volume of 361,614. The company has a quick ratio of 0.91, a current ratio of 1.64 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $493.52 million, a price-to-earnings ratio of -28.67 and a beta of 1.27. The firm’s 50 day moving average price is $32.17 and its two-hundred day moving average price is $24.81. Mayville Engineering Company, Inc. has a 12 month low of $12.25 and a 12 month high of $38.76.
Mayville Engineering (NYSE:MEC – Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.12. Mayville Engineering had a negative return on equity of 7.23% and a negative net margin of 2.95%.The company had revenue of $162.98 million for the quarter, compared to analysts’ expectations of $150.59 million. Sell-side analysts forecast that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Mayville Engineering
Wall Street Analysts Forecast Growth
MEC has been the topic of several research analyst reports. Citigroup increased their price target on shares of Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 13th. DA Davidson upped their price objective on Mayville Engineering from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mayville Engineering in a research report on Friday, July 10th. Finally, Northland Securities set a $40.00 target price on Mayville Engineering in a research note on Thursday. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Mayville Engineering presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.
About Mayville Engineering
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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