Mayville Engineering Company, Inc. (NYSE:MEC) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Mayville Engineering Company, Inc. (NYSE:MEC) have been given a consensus rating of “Moderate Buy” by the six brokerages that are covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $22.00.

MEC has been the topic of several research reports. Craig Hallum set a $24.00 target price on Mayville Engineering and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. Northland Securities downgraded Mayville Engineering from an “outperform” rating to a “market perform” rating and set a $20.00 price objective on the stock. in a report on Monday, January 5th. Finally, Northland Capmk cut shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th.

Mayville Engineering Stock Up 0.9%

MEC stock opened at $18.45 on Friday. The company has a 50 day moving average of $17.43 and a two-hundred day moving average of $15.84. The company has a market cap of $374.99 million, a price-to-earnings ratio of 31.82 and a beta of 1.08. Mayville Engineering has a 12-month low of $11.72 and a 12-month high of $19.77. 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 (NYSE:MEC) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. The business had revenue of $144.31 million for the quarter, compared to analysts’ expectations of $141.36 million. On average, equities analysts anticipate that Mayville Engineering will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mayville Engineering news, EVP Ryan F. Raber sold 15,000 shares of the firm’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 directly owned 91,018 shares in the company, valued at $1,518,180.24. This trade represents a 14.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven L. Fisher sold 10,000 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $19.11, for a total value of $191,100.00. Following the completion of 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 position. The disclosure for this sale is available in the SEC filing. 7.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MEC. BNP Paribas Financial Markets boosted its position in Mayville Engineering by 109.0% during the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after purchasing an additional 1,435 shares during the period. AlphaQuest LLC lifted its stake in shares of Mayville Engineering by 26.2% in the third quarter. AlphaQuest LLC now owns 8,342 shares of the company’s stock worth $115,000 after buying an additional 1,733 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Mayville Engineering by 20.7% in the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock worth $127,000 after buying an additional 1,359 shares during the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Mayville Engineering during the 2nd quarter worth $165,000. Finally, Public Employees Retirement System of Ohio grew its stake in Mayville Engineering by 54.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,689 shares of the company’s stock valued at $230,000 after buying an additional 5,855 shares during the last quarter. 45.44% of the stock is owned by institutional investors.

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.