Mayville Engineering (NYSE:MEC) SVP Sells $92,960.00 in Stock

Mayville Engineering Company, Inc. (NYSE:MECGet 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:MECGet 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

Hedge funds and other institutional investors have recently made changes to their positions in the business. BNP Paribas Financial Markets increased its position 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 acquiring an additional 1,435 shares in the last quarter. Clearstead Advisors LLC increased its position 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 acquiring an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Mayville Engineering during the fourth quarter worth about $73,000. Picton Mahoney Asset Management purchased a new position in Mayville Engineering during the fourth quarter worth about $109,000. Finally, AlphaQuest LLC boosted its holdings in 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 purchasing an additional 1,733 shares during the last quarter. 45.44% of the stock is owned by institutional investors.

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

(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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