Mayville Engineering Company, Inc. (NYSE:MEC – Get Free Report) SVP Craig Nichols sold 4,000 shares of Mayville Engineering stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.24, for a total transaction of $92,960.00. Following the transaction, the senior vice president owned 146 shares in the company, valued at approximately $3,393.04. This trade represents a 96.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Mayville Engineering Trading Up 4.6%
Shares of NYSE:MEC traded up $1.16 during mid-day trading on Tuesday, reaching $26.61. 469,944 shares of the company’s stock were exchanged, compared to its average volume of 214,473. The firm has a market capitalization of $545.24 million, a price-to-earnings ratio of -33.26 and a beta of 1.24. The business’s fifty day moving average price is $21.02 and its 200-day moving average price is $19.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 1.64. Mayville Engineering Company, Inc. has a twelve month low of $12.10 and a twelve month high of $28.15.
Mayville Engineering (NYSE:MEC – Get Free Report) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, topping 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 company had revenue of $144.78 million for the quarter, compared to analyst estimates of $139.18 million. On average, research analysts predict that Mayville Engineering Company, Inc. will post -0.23 EPS for the current fiscal year.
Institutional Investors Weigh In On Mayville Engineering
Analysts Set New Price Targets
A number of equities analysts recently weighed in on the stock. Zacks Research raised shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. DA Davidson lifted their target price on shares of Mayville Engineering from $23.00 to $32.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Northland Securities set a $30.00 target price on shares of Mayville Engineering in a research note on Thursday, May 7th. Citigroup lifted 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, 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. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Mayville Engineering presently has an average rating of “Moderate Buy” and an average price target of $29.75.
View Our Latest Research Report on MEC
Mayville Engineering Company Profile
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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