Mayville Engineering Company, Inc. (NYSE:MEC – Get Free Report) EVP Ryan Raber sold 20,000 shares of Mayville Engineering stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the transaction, the executive vice president directly owned 86,970 shares in the company, valued at approximately $2,261,220. The trade was a 18.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Mayville Engineering Stock Performance
Shares of MEC opened at $26.15 on Friday. 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. The firm’s 50 day moving average price is $21.59 and its two-hundred day moving average price is $19.69. The firm has a market cap of $535.90 million, a P/E ratio of -32.69 and a beta of 1.24.
Mayville Engineering (NYSE:MEC – Get Free Report) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share 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 analyst estimates of $139.18 million. On average, analysts forecast that Mayville Engineering Company, Inc. will post -0.23 EPS for the current fiscal year.
Hedge Funds Weigh In On Mayville Engineering
Analyst Ratings Changes
MEC has been the topic of a number of recent research reports. Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. DA Davidson lifted their price objective on shares of Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Zacks Research upgraded shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. Northland Securities set a $30.00 price objective on shares of Mayville Engineering in a report on Thursday, May 7th. Finally, Citigroup lifted their price objective on shares of Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday, May 8th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.
Check Out Our Latest Stock Report on Mayville Engineering
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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