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

Mayville Engineering Company, Inc. (NYSE:MEC) insider Sean Leuba sold 6,698 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $18.81, for a total value of $125,989.38. Following the sale, the insider directly owned 11,841 shares of the company’s stock, valued at approximately $222,729.21. This represents a 36.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mayville Engineering Trading Down 1.7%

MEC traded down $0.33 during trading on Monday, reaching $18.85. The company had a trading volume of 142,595 shares, compared to its average volume of 175,960. The firm’s 50-day simple moving average is $19.82 and its 200 day simple moving average is $17.10. The company has a market cap of $382.99 million, a price-to-earnings ratio of -47.12 and a beta of 1.08. Mayville Engineering Company, Inc. has a 12-month low of $11.72 and a 12-month high of $22.36. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.92 and a current ratio of 1.72.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $134.27 million during the quarter, compared to analyst estimates of $132.51 million. Equities research analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Mayville Engineering

Several hedge funds and other institutional investors have recently modified their holdings of MEC. Invesco Ltd. grew its stake in Mayville Engineering by 6.4% in the fourth quarter. Invesco Ltd. now owns 27,870 shares of the company’s stock valued at $522,000 after purchasing an additional 1,679 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Mayville Engineering during the 4th quarter worth about $399,000. SummitTX Capital L.P. purchased a new stake in shares of Mayville Engineering during the 4th quarter worth about $283,000. Millennium Management LLC acquired a new stake in shares of Mayville Engineering during the 4th quarter valued at about $2,868,000. Finally, EVR Research LP bought a new stake in shares of Mayville Engineering in the 4th quarter valued at approximately $11,326,000. 45.44% of the stock is currently owned by hedge funds and other 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.