Steven Fisher Sells 10,000 Shares of Mayville Engineering (NYSE:MEC) Stock

Mayville Engineering Company, Inc. (NYSE:MEC) Director Steven Fisher sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $19.11, for a total transaction of $191,100.00. Following the completion of the sale, the director directly owned 30,482 shares in the company, valued at $582,511.02. This represents a 24.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Mayville Engineering Stock Performance

Shares of MEC stock opened at $18.23 on Wednesday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.82. The firm has a market capitalization of $370.43 million, a price-to-earnings ratio of 31.43 and a beta of 1.13. Mayville Engineering Company, Inc. has a one year low of $11.72 and a one year high of $19.25. The company has a 50 day moving average price of $16.13 and a 200 day moving average price of $15.46.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.05. The company had revenue of $144.31 million during the quarter, compared to analysts’ expectations of $141.36 million. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. Sell-side analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 EPS for the current year.

Institutional Investors Weigh In On Mayville Engineering

Several institutional investors and hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. raised its holdings in shares of Mayville Engineering by 24.9% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 170,335 shares of the company’s stock valued at $2,344,000 after buying an additional 33,952 shares during the period. Public Employees Retirement System of Ohio grew its position in Mayville Engineering by 54.0% in the third quarter. Public Employees Retirement System of Ohio now owns 16,689 shares of the company’s stock valued at $230,000 after acquiring an additional 5,855 shares in the last quarter. 22NW LP grew its position in Mayville Engineering by 157.2% in the third quarter. 22NW LP now owns 399,890 shares of the company’s stock valued at $5,502,000 after acquiring an additional 244,440 shares in the last quarter. Ameriprise Financial Inc. raised 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 valued at $5,424,000 after purchasing an additional 354,514 shares during the period. Finally, Raymond James Financial Inc. lifted its position in shares of Mayville Engineering by 3.0% during the third quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after purchasing an additional 740 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on MEC. Weiss Ratings restated a “hold (c-)” rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. Craig Hallum set a $24.00 price target on shares of Mayville Engineering and gave the company a “buy” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Mayville Engineering presently has an average rating of “Buy” and a consensus price target of $21.50.

About Mayville Engineering

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.