Mayville Engineering Company, Inc. (NYSE:MEC) Director Craig E. Johnson Sells 4,000 Shares of Stock

Mayville Engineering Company, Inc. (NYSE:MEC) Director Craig E. Johnson sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $9.20, for a total transaction of $36,800.00. Following the completion of the sale, the director now directly owns 11,883 shares of the company’s stock, valued at $109,323.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

NYSE MEC traded up $0.12 during trading hours on Wednesday, reaching $9.24. 24,381 shares of the company’s stock traded hands, compared to its average volume of 42,213. Mayville Engineering Company, Inc. has a 52-week low of $3.89 and a 52-week high of $14.81. The firm has a market cap of $185.35 million, a PE ratio of 154.00 and a beta of 0.34. The firm has a 50-day simple moving average of $8.55 and a 200 day simple moving average of $6.94. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.81 and a quick ratio of 1.50.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, August 4th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.08). The firm had revenue of $62.58 million for the quarter, compared to the consensus estimate of $73.37 million. Mayville Engineering had a net margin of 0.28% and a return on equity of 0.55%. Sell-side analysts forecast that Mayville Engineering Company, Inc. will post -0.45 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in MEC. Tocqueville Asset Management L.P. increased its stake in Mayville Engineering by 182.4% during the 2nd quarter. Tocqueville Asset Management L.P. now owns 399,443 shares of the company’s stock valued at $3,156,000 after purchasing an additional 258,009 shares in the last quarter. Wellington Management Group LLP increased its stake in Mayville Engineering by 37.8% during the 1st quarter. Wellington Management Group LLP now owns 471,779 shares of the company’s stock valued at $2,892,000 after purchasing an additional 129,375 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Mayville Engineering in the first quarter worth approximately $743,000. Sontag Advisory LLC bought a new stake in shares of Mayville Engineering in the first quarter worth approximately $417,000. Finally, Bridgeway Capital Management Inc. bought a new stake in shares of Mayville Engineering in the second quarter worth approximately $419,000. Institutional investors and hedge funds own 31.37% of the company’s stock.

Several equities research analysts have recently commented on MEC shares. Citigroup raised their target price on shares of Mayville Engineering from $9.00 to $10.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. UBS Group raised shares of Mayville Engineering from a “neutral” rating to a “buy” rating in a research report on Friday, August 21st. Zacks Investment Research cut shares of Mayville Engineering from a “hold” rating to a “sell” rating in a research report on Thursday, August 6th. Finally, ValuEngine raised shares of Mayville Engineering from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd.

About Mayville Engineering

Mayville Engineering Company, Inc operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction, 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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