Mayville Engineering Company, Inc. (NYSE:MEC – Get Rating) – Equities researchers at Jefferies Financial Group decreased their Q3 2022 earnings estimates for Mayville Engineering in a research report issued to clients and investors on Wednesday, May 4th. Jefferies Financial Group analyst S. Volkmann now forecasts that the company will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.40.
A number of other analysts have also recently commented on MEC. Zacks Investment Research upgraded shares of Mayville Engineering from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Saturday. Robert W. Baird cut shares of Mayville Engineering from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Friday, January 21st.
Mayville Engineering (NYSE:MEC – Get Rating) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. Mayville Engineering had a negative net margin of 1.29% and a positive return on equity of 3.19%. During the same period in the previous year, the business earned $0.12 EPS.
Several institutional investors and hedge funds have recently modified their holdings of MEC. Cetera Advisors LLC bought a new position in shares of Mayville Engineering during the 3rd quarter worth $1,204,000. Allspring Global Investments Holdings LLC purchased a new position in shares of Mayville Engineering in the fourth quarter worth about $31,569,000. Dimensional Fund Advisors LP grew its holdings in Mayville Engineering by 35.7% during the third quarter. Dimensional Fund Advisors LP now owns 63,407 shares of the company’s stock worth $1,192,000 after acquiring an additional 16,689 shares during the period. Lewis Capital Management LLC acquired a new stake in Mayville Engineering in the fourth quarter valued at approximately $1,673,000. Finally, Summit Global Investments acquired a new stake in Mayville Engineering in the third quarter valued at approximately $263,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.
Mayville Engineering Company Profile (Get Rating)
Mayville Engineering Company, Inc, together with its subsidiaries, operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction and access equipment, powersports, agriculture, military, and other end markets in the United States. The company provides a range of prototyping and tooling, production fabrication, coating, assembly, and aftermarket components.
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