250,512 Shares in Mayville Engineering Company, Inc. $MEC Purchased by JB Capital Partners LP

JB Capital Partners LP acquired a new stake in Mayville Engineering Company, Inc. (NYSE:MEC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 250,512 shares of the company’s stock, valued at approximately $9,384,180,000. Mayville Engineering accounts for about 1.5% of JB Capital Partners LP’s holdings, making the stock its 15th largest position. JB Capital Partners LP owned approximately 0.98% of Mayville Engineering at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Clearstead Advisors LLC grew its holdings in shares of Mayville Engineering by 194.9% in the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock valued at $39,000 after purchasing an additional 1,384 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in shares of Mayville Engineering in the second quarter valued at $80,000. BNP Paribas Financial Markets boosted its holdings in Mayville Engineering by 109.0% in the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock valued at $38,000 after purchasing an additional 1,435 shares during the period. State of Alaska Department of Revenue acquired a new position in Mayville Engineering during the 4th quarter worth $73,000. Finally, Picton Mahoney Asset Management acquired a new position in Mayville Engineering during the 4th quarter worth $109,000. Institutional investors and hedge funds own 45.44% of the company’s stock.

Insiders Place Their Bets

In other Mayville Engineering news, EVP Ryan F. Raber sold 20,000 shares of Mayville Engineering stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total value of $520,000.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jagadeesh A. Reddy sold 17,942 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $538,260.00. Following the completion of the sale, the chief executive officer directly owned 140,445 shares of the company’s stock, valued at $4,213,350. The trade was a 11.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 67,785 shares of company stock valued at $1,980,669. Insiders own 5.60% of the company’s stock.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $21.56 on Friday. Mayville Engineering Company, Inc. has a 12 month low of $12.25 and a 12 month high of $38.76. The firm has a market capitalization of $549.78 million, a P/E ratio of -25.67 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 0.96. The company’s fifty day moving average price is $30.04 and its 200 day moving average price is $25.12.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%.The company had revenue of $162.98 million for the quarter, compared to analyst estimates of $150.59 million. As a group, sell-side analysts predict that Mayville Engineering Company, Inc. will post -0.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MEC has been the subject of several recent research reports. Citigroup lifted their price objective on Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mayville Engineering in a report on Friday, July 10th. Northland Securities set a $40.00 price target on shares of Mayville Engineering in a research note on Thursday, August 6th. Finally, DA Davidson boosted their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Mayville Engineering 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.