Northland Securities Brokers Lift Earnings Estimates for MEC

Mayville Engineering Company, Inc. (NYSE:MEC) – Research analysts at Northland Securities boosted their FY2028 earnings per share (EPS) estimates for shares of Mayville Engineering in a report released on Thursday, August 6th. Northland Securities analyst T. Jackson now forecasts that the company will earn $1.10 per share for the year, up from their previous estimate of $1.07. The consensus estimate for Mayville Engineering’s current full-year earnings is ($0.08) per share.

Mayville Engineering (NYSE:MEC) last released its earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. The company had revenue of $162.98 million during the quarter, compared to the consensus estimate of $150.59 million. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%.

A number of other brokerages have also weighed in on MEC. Citigroup boosted their price objective on shares of Mayville Engineering from $33.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mayville Engineering in a research report on Friday, July 10th. Finally, DA Davidson boosted their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $35.75.

Mayville Engineering Stock Down 1.5%

Shares of NYSE MEC opened at $22.54 on Wednesday. The stock has a market capitalization of $574.77 million, a P/E ratio of -26.83 and a beta of 1.27. Mayville Engineering has a one year low of $12.25 and a one year high of $38.76. The firm’s 50 day simple moving average is $31.77 and its two-hundred day simple moving average is $24.92. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.96.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MEC. Royce & Associates LP lifted its position in Mayville Engineering by 10.2% during the fourth quarter. Royce & Associates LP now owns 624,307 shares of the company’s stock valued at $11,687,000 after buying an additional 57,590 shares during the period. UBS Group AG boosted its holdings in shares of Mayville Engineering by 38.6% during the 4th quarter. UBS Group AG now owns 146,552 shares of the company’s stock valued at $2,743,000 after buying an additional 40,798 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Mayville Engineering by 5.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 926,216 shares of the company’s stock worth $16,625,000 after buying an additional 49,041 shares during the period. Congruence Capital LLC purchased a new stake in shares of Mayville Engineering in the 4th quarter worth about $3,896,000. Finally, North Star Investment Management Corp. bought a new position in shares of Mayville Engineering in the 1st quarter worth about $538,000. Institutional investors own 45.44% of the company’s stock.

Insider Buying and Selling

In other Mayville Engineering news, SVP Sean P. Leuba sold 12,855 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $25.44, for a total transaction of $327,031.20. Following the completion of the transaction, the senior vice president owned 6,633 shares of the company’s stock, valued at $168,743.52. This represents a 65.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jagadeesh A. Reddy sold 17,942 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $30.00, for a total value of $538,260.00. Following the transaction, the chief executive officer owned 140,445 shares of the company’s stock, valued at approximately $4,213,350. This represents a 11.33% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 71,785 shares of company stock valued at $2,073,629 over the last quarter. Company insiders own 5.60% 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.