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

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been given an average rating of “Hold” by the six ratings firms that are currently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $22.75.

Several brokerages have recently weighed in on MEC. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a report on Thursday, January 22nd. Citigroup upped their price target on Mayville Engineering from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, January 12th. Northland Securities cut 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, Zacks Research lowered Mayville Engineering from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st.

Mayville Engineering Stock Performance

NYSE:MEC opened at $22.10 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.82 and a debt-to-equity ratio of 0.87. Mayville Engineering has a twelve month low of $11.72 and a twelve month high of $22.36. The company has a fifty day moving average of $19.37 and a 200-day moving average of $16.64. The firm has a market capitalization of $449.11 million, a P/E ratio of 38.11 and a beta of 1.09.

Insider Buying and Selling at Mayville Engineering

In related news, EVP Ryan F. Raber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $16.68, for a total value of $250,200.00. Following the sale, the executive vice president owned 91,018 shares in the company, valued at $1,518,180.24. This represents a 14.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven L. Fisher sold 10,000 shares of the business’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 value of $191,100.00. Following the sale, the director directly owned 30,482 shares of the company’s stock, valued at $582,511.02. This represents a 24.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MEC. BNP Paribas Financial Markets lifted its stake in Mayville Engineering by 109.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock valued at $38,000 after acquiring an additional 1,435 shares in the last quarter. Clearstead Advisors LLC increased its position in Mayville Engineering by 194.9% in the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock worth $39,000 after buying an additional 1,384 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Mayville Engineering in the fourth quarter valued at $73,000. Picton Mahoney Asset Management purchased a new position in shares of Mayville Engineering during the 4th quarter valued at $109,000. Finally, AlphaQuest LLC grew its stake in shares of Mayville Engineering by 26.2% during the 3rd quarter. AlphaQuest LLC now owns 8,342 shares of the company’s stock worth $115,000 after acquiring an additional 1,733 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

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.