Insider Selling: Mayville Engineering (NYSE:MEC) Director Sells 10,000 Shares of Stock

Mayville Engineering Company, Inc. (NYSE:MEC) Director Steven Fisher sold 10,000 shares of Mayville Engineering stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $19.11, for a total transaction of $191,100.00. Following the sale, the director owned 30,482 shares of the company’s stock, valued at approximately $582,511.02. This trade represents a 24.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Mayville Engineering Trading Down 0.3%

NYSE:MEC traded down $0.05 during mid-day trading on Monday, reaching $18.57. The company’s stock had a trading volume of 157,825 shares, compared to its average volume of 138,200. The stock has a market cap of $377.40 million, a P/E ratio of 32.02 and a beta of 1.13. Mayville Engineering Company, Inc. has a twelve month low of $11.72 and a twelve month high of $19.25. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.04. The company’s fifty day simple moving average is $16.03 and its two-hundred day simple moving average is $15.44.

Mayville Engineering (NYSE:MEC) last released its earnings results on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.05. The firm had revenue of $144.31 million during the quarter, compared to the consensus estimate of $141.36 million. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. On average, equities analysts predict that Mayville Engineering Company, Inc. will post 0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Craig Hallum set a $24.00 target price on shares of 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 report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $21.50.

Institutional Investors Weigh In On Mayville Engineering

A number of institutional investors have recently added to or reduced their stakes in MEC. Jacobs Levy Equity Management Inc. increased its stake in Mayville Engineering by 24.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 170,335 shares of the company’s stock worth $2,344,000 after purchasing an additional 33,952 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Mayville Engineering by 54.0% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 16,689 shares of the company’s stock valued at $230,000 after purchasing an additional 5,855 shares during the last quarter. 22NW LP increased its stake in Mayville Engineering by 157.2% during the third quarter. 22NW LP now owns 399,890 shares of the company’s stock valued at $5,502,000 after acquiring an additional 244,440 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Mayville Engineering by 894.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company’s stock valued at $5,424,000 after acquiring an additional 354,514 shares in the last quarter. Finally, Raymond James Financial Inc. grew its position in Mayville Engineering by 3.0% in the third quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock valued at $347,000 after acquiring an additional 740 shares during the period. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.