Mayville Engineering (NYSE:MEC) SVP Sean Leuba Sells 12,855 Shares of Stock

Mayville Engineering Company, Inc. (NYSE:MEC) SVP Sean Leuba sold 12,855 shares of the business’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $25.44, for a total value of $327,031.20. Following the completion of the transaction, the senior vice president owned 6,633 shares in the company, valued at $168,743.52. The trade was a 65.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Mayville Engineering Stock Performance

NYSE:MEC opened at $24.09 on Friday. The stock has a 50-day moving average price of $32.11 and a 200 day moving average price of $24.80. The company has a current ratio of 1.70, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39. Mayville Engineering Company, Inc. has a 12-month low of $12.25 and a 12-month high of $38.76. The stock has a market capitalization of $493.52 million, a P/E ratio of -28.67 and a beta of 1.27.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share 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 business had revenue of $162.98 million during the quarter, compared to the consensus estimate of $150.59 million. Equities research analysts forecast that Mayville Engineering Company, Inc. will post -0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On Mayville Engineering

Several institutional investors and hedge funds have recently bought and sold shares of MEC. BlackRock Inc. purchased a new stake in Mayville Engineering during the 2nd quarter worth approximately $44,332,000. EVR Research LP acquired a new stake in shares of Mayville Engineering during the fourth quarter worth $11,326,000. Ameriprise Financial Inc. lifted its stake in shares of Mayville Engineering by 894.2% during the third quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company’s stock worth $5,424,000 after buying an additional 354,514 shares during the period. Congruence Capital LLC purchased a new stake in shares of Mayville Engineering during the fourth quarter valued at $3,896,000. Finally, Blair William & Co. IL increased its position in shares of Mayville Engineering by 54.8% in the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company’s stock valued at $10,928,000 after acquiring an additional 206,549 shares during the period. 45.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MEC has been the topic of several research analyst reports. 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 research note on Wednesday, July 22nd. Northland Securities set a $40.00 price target on Mayville Engineering in a report on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mayville Engineering in a research report on Friday, July 10th. Finally, Citigroup boosted their price target on Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Mayville Engineering presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.75.

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.