Mayville Engineering (NYSE:MEC) SVP Craig Nichols Sells 4,000 Shares of Stock

Mayville Engineering Company, Inc. (NYSE:MEC) SVP Craig Nichols sold 4,000 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.24, for a total value of $92,960.00. Following the transaction, the senior vice president directly owned 146 shares in the company, valued at $3,393.04. This trade represents a 96.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mayville Engineering Stock Performance

Shares of Mayville Engineering stock opened at $26.61 on Wednesday. Mayville Engineering Company, Inc. has a 52 week low of $12.10 and a 52 week high of $28.15. The business’s fifty day simple moving average is $21.22 and its 200-day simple moving average is $19.55. The firm has a market cap of $545.35 million, a PE ratio of -33.26 and a beta of 1.24. The company has a quick ratio of 0.91, a current ratio of 1.64 and a debt-to-equity ratio of 0.91.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.13. Mayville Engineering had a negative return on equity of 5.77% and a negative net margin of 2.93%.The business had revenue of $144.78 million for the quarter, compared to analyst estimates of $139.18 million. Equities analysts forecast that Mayville Engineering Company, Inc. will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on MEC shares. DA Davidson upped their price target on Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Citigroup upped their price target on Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Northland Securities set a $30.00 price target on Mayville Engineering in a research note on Thursday, May 7th. Weiss Ratings lowered Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. Finally, Zacks Research raised Mayville Engineering from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Mayville Engineering currently has an average rating of “Moderate Buy” and an average target price of $29.75.

Institutional Investors Weigh In On Mayville Engineering

Several institutional investors and hedge funds have recently modified their holdings of MEC. EVR Research LP purchased a new stake in shares of Mayville Engineering in the 4th quarter valued at $11,326,000. Ameriprise Financial Inc. raised 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 valued at $5,424,000 after buying an additional 354,514 shares during the period. 22NW LP raised its holdings in shares of Mayville Engineering by 157.2% in the 3rd quarter. 22NW LP now owns 399,890 shares of the company’s stock valued at $5,502,000 after buying an additional 244,440 shares during the period. Congruence Capital LLC purchased a new stake in shares of Mayville Engineering in the 4th quarter valued at $3,896,000. Finally, Blair William & Co. IL raised its holdings in shares of Mayville Engineering by 54.8% in the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company’s stock valued at $10,928,000 after buying an additional 206,549 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

About Mayville Engineering

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.