Mayville Engineering (NYSE:MEC) EVP Ryan Raber Sells 20,000 Shares

Mayville Engineering Company, Inc. (NYSE:MEC) EVP Ryan Raber sold 20,000 shares of the stock in a transaction that occurred 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 owned 86,970 shares in the company, valued at $2,261,220. This trade represents a 18.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mayville Engineering Trading Up 1.6%

Shares of NYSE:MEC opened at $27.08 on Thursday. The business’s 50 day moving average price is $21.41 and its 200-day moving average price is $19.62. Mayville Engineering Company, Inc. has a 1 year low of $12.10 and a 1 year high of $28.15. The firm has a market capitalization of $554.87 million, a price-to-earnings ratio of -33.85 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 0.91.

Mayville Engineering (NYSE:MEC) last announced its earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.13. Mayville Engineering had a negative return on equity of 5.77% and a negative net margin of 2.93%.The business had revenue of $144.78 million during the quarter, compared to analysts’ expectations of $139.18 million. On average, equities research analysts forecast that Mayville Engineering Company, Inc. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Zacks Research raised Mayville Engineering from a “strong sell” rating to a “hold” rating in a report on Friday, March 6th. DA Davidson increased their target price on Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Citigroup boosted their price target on shares of Mayville Engineering from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Northland Securities set a $30.00 price target on shares of Mayville Engineering in a research report on Thursday, May 7th. Finally, Weiss Ratings lowered shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $29.75.

Institutional Investors Weigh In On Mayville Engineering

A number of large investors have recently made changes to their positions in the stock. Raymond James Financial Inc. grew its position in shares of Mayville Engineering by 3.0% in the third quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock valued at $347,000 after purchasing an additional 740 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Mayville Engineering by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,792 shares of the company’s stock valued at $245,000 after purchasing an additional 800 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Mayville Engineering by 20.7% in the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after purchasing an additional 1,359 shares in the last quarter. Clearstead Advisors LLC grew its position 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. Finally, BNP Paribas Financial Markets grew its position in shares of 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 in the last quarter. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

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.