Mayville Engineering Company, Inc. (NYSE:MEC) Receives Consensus Rating of “Hold” from Brokerages

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have received a consensus recommendation of “Hold” from the six brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.75.

MEC has been the topic of a number of recent research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mayville Engineering in a research note on Thursday, January 22nd. Zacks Research lowered shares of Mayville Engineering from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 21st. Citigroup lifted their price target on Mayville Engineering from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Northland Securities downgraded Mayville Engineering from an “outperform” rating to a “market perform” rating and set a $20.00 price objective for the company. in a research note on Monday, January 5th. Finally, Craig Hallum set a $24.00 target price on Mayville Engineering and gave the company a “buy” rating in a report on Tuesday, October 21st.

Insiders Place Their Bets

In other news, Director Steven L. Fisher sold 10,000 shares of the stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $19.11, for a total value of $191,100.00. Following the completion of the sale, the director 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ryan F. Raber sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $16.68, for a total transaction of $250,200.00. Following the transaction, the executive vice president owned 91,018 shares in the company, valued at approximately $1,518,180.24. This trade represents a 14.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 7.20% of the stock is owned by insiders.

Institutional Trading of Mayville Engineering

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Mayville Engineering by 4.1% in the third quarter. Dimensional Fund Advisors LP now owns 847,123 shares of the company’s stock worth $11,656,000 after purchasing an additional 33,089 shares during the last quarter. Royce & Associates LP raised its stake in shares of Mayville Engineering by 1.4% during the 3rd quarter. Royce & Associates LP now owns 566,717 shares of the company’s stock worth $7,798,000 after purchasing an additional 7,868 shares during the period. 22NW LP raised its stake in shares of Mayville Engineering by 157.2% during the 3rd quarter. 22NW LP now owns 399,890 shares of the company’s stock worth $5,502,000 after purchasing an additional 244,440 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Mayville Engineering by 894.2% in the 3rd 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 last quarter. Finally, Blair William & Co. IL grew its position in Mayville Engineering by 1.0% during the third quarter. Blair William & Co. IL now owns 377,210 shares of the company’s stock valued at $5,190,000 after buying an additional 3,762 shares during the period. 45.44% of the stock is owned by hedge funds and other institutional investors.

Mayville Engineering Stock Up 2.8%

Shares of NYSE:MEC opened at $18.92 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.82. Mayville Engineering has a 52-week low of $11.72 and a 52-week high of $19.82. The business’s 50 day simple moving average is $18.00 and its two-hundred day simple moving average is $16.05. The firm has a market cap of $384.45 million, a P/E ratio of 32.62 and a beta of 1.08.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.05. Mayville Engineering had a return on equity of 5.88% and a net margin of 2.29%.The company had revenue of $144.31 million for the quarter, compared to analyst estimates of $141.36 million. As a group, research analysts forecast that Mayville Engineering will post 0.31 EPS for the current fiscal year.

Mayville Engineering Company 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.