Mayville Engineering (NYSE:MEC) Insider Sean Leuba Sells 6,698 Shares

Mayville Engineering Company, Inc. (NYSE:MEC) insider Sean Leuba sold 6,698 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $18.81, for a total value of $125,989.38. Following the completion of the transaction, the insider owned 11,841 shares of the company’s stock, valued at $222,729.21. The trade was a 36.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Mayville Engineering Trading Down 1.7%

Shares of MEC opened at $18.85 on Tuesday. The firm has a market cap of $383.03 million, a P/E ratio of -47.12 and a beta of 1.08. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.72 and a quick ratio of 0.92. Mayville Engineering Company, Inc. has a 1 year low of $11.72 and a 1 year high of $22.36. The company has a 50 day simple moving average of $19.81 and a two-hundred day simple moving average of $17.13.

Mayville Engineering (NYSE:MEC) last released its earnings results on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.08. Mayville Engineering had a negative net margin of 1.48% and a negative return on equity of 2.33%. The firm had revenue of $134.27 million for the quarter, compared to the consensus estimate of $132.51 million. On average, equities analysts expect that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Mayville Engineering

A number of institutional investors and hedge funds have recently made changes to their positions in MEC. Dimensional Fund Advisors LP raised its position in shares of Mayville Engineering by 3.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 877,175 shares of the company’s stock valued at $16,422,000 after buying an additional 30,052 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of Mayville Engineering by 10.2% in the 4th quarter. Royce & Associates LP now owns 624,307 shares of the company’s stock valued at $11,687,000 after acquiring an additional 57,590 shares during the last quarter. EVR Research LP purchased a new position in Mayville Engineering in the fourth quarter worth about $11,326,000. Blair William & Co. IL grew its position in Mayville Engineering by 54.8% in the fourth quarter. Blair William & Co. IL now owns 583,759 shares of the company’s stock worth $10,928,000 after acquiring an additional 206,549 shares in the last quarter. Finally, 22NW LP increased its stake in Mayville Engineering by 3.6% during the fourth quarter. 22NW LP now owns 414,280 shares of the company’s stock worth $7,755,000 after acquiring an additional 14,390 shares during the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. DA Davidson lifted their target price on Mayville Engineering from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Zacks Research downgraded Mayville Engineering from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 21st. Northland Securities raised Mayville Engineering from a “market perform” rating to an “outperform” rating and increased their price target for the company from $20.00 to $25.00 in a research note on Thursday, March 5th. Finally, Citigroup raised their price target on Mayville Engineering from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Four investment analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $24.25.

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.