Mayville Engineering Company, Inc. $MEC Shares Purchased by Roubaix Capital LLC

Roubaix Capital LLC boosted its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 44.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 210,657 shares of the company’s stock after purchasing an additional 64,360 shares during the quarter. Roubaix Capital LLC owned about 1.04% of Mayville Engineering worth $3,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MEC. Raymond James Financial Inc. boosted its stake in Mayville Engineering by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after purchasing an additional 740 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Mayville Engineering by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,792 shares of the company’s stock valued at $245,000 after buying an additional 800 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 in the last quarter. Clearstead Advisors LLC lifted its stake in shares of Mayville Engineering by 194.9% in the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock worth $39,000 after buying an additional 1,384 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in shares of Mayville Engineering by 109.0% in the third quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after buying an additional 1,435 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Insiders Place Their Bets

In other Mayville Engineering news, EVP Ryan F. Raber sold 20,000 shares of Mayville Engineering stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the transaction, the executive vice president directly owned 86,970 shares of the company’s stock, valued at $2,261,220. The trade was a 18.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Craig D. Nichols sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $23.24, for a total transaction of $92,960.00. Following the completion of the transaction, the senior vice president owned 146 shares in the company, valued at $3,393.04. The trade was a 96.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 80,726 shares of company stock valued at $2,311,768 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MEC. Northland Securities set a $30.00 price objective on shares of Mayville Engineering in a research note on Thursday, May 7th. DA Davidson increased their price objective on shares of Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a report on Monday, May 11th. Citigroup raised their target price on shares of Mayville Engineering from $33.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Mayville Engineering in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Mayville Engineering presently has a consensus rating of “Moderate Buy” and an average target price of $32.25.

Mayville Engineering Stock Down 4.8%

Shares of MEC opened at $30.95 on Friday. Mayville Engineering Company, Inc. has a 52-week low of $12.10 and a 52-week high of $38.76. The company has a market capitalization of $634.25 million, a PE ratio of -38.68 and a beta of 1.22. The stock has a fifty day simple moving average of $31.53 and a two-hundred day simple moving average of $23.89. 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 posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) EPS for the quarter, topping 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. As a group, equities analysts forecast that Mayville Engineering Company, Inc. will post -0.08 EPS for the current year.

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.