Royce & Associates LP Buys 57,590 Shares of Mayville Engineering Company, Inc. $MEC

Royce & Associates LP boosted its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 10.2% during the 4th quarter, HoldingsChannel reports. The fund owned 624,307 shares of the company’s stock after purchasing an additional 57,590 shares during the period. Royce & Associates LP’s holdings in Mayville Engineering were worth $11,687,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Clearstead Advisors LLC increased its stake in Mayville Engineering by 194.9% during the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock worth $39,000 after acquiring an additional 1,384 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Mayville Engineering by 1.0% during the fourth quarter. First Eagle Investment Management LLC now owns 358,075 shares of the company’s stock worth $6,703,000 after acquiring an additional 3,500 shares during the last quarter. UBS Group AG increased its stake in Mayville Engineering by 38.6% during the fourth quarter. UBS Group AG now owns 146,552 shares of the company’s stock worth $2,743,000 after acquiring an additional 40,798 shares during the last quarter. State of Alaska Department of Revenue bought a new stake in Mayville Engineering during the fourth quarter worth approximately $73,000. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Mayville Engineering by 6.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,792 shares of the company’s stock worth $245,000 after acquiring an additional 800 shares during the last quarter. 45.44% of the stock is owned by institutional investors.

Mayville Engineering Trading Up 1.6%

MEC opened at $27.08 on Thursday. The stock has a market cap of $554.87 million, a price-to-earnings ratio of -33.85 and a beta of 1.24. The stock’s 50 day moving average price is $21.41 and its 200-day moving average price is $19.62. Mayville Engineering Company, Inc. has a one year low of $12.10 and a one year high of $28.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 1.64.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share (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 company had revenue of $144.78 million for the quarter, compared to analysts’ expectations of $139.18 million. On average, equities analysts forecast that Mayville Engineering Company, Inc. will post -0.23 EPS for the current year.

Analysts Set New Price Targets

MEC has been the topic of several analyst reports. Zacks Research raised Mayville Engineering from a “strong sell” rating to a “hold” rating in a research note on Friday, March 6th. Northland Securities set a $30.00 target price on Mayville Engineering in a research note on Thursday, May 7th. Weiss Ratings cut Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, March 5th. DA Davidson upped their target price on Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Citigroup upped their target price on Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $29.75.

Insider Transactions at Mayville Engineering

In related news, CEO Jagadeesh A. Reddy sold 21,796 shares of the stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $25.93, for a total value of $565,170.28. Following the transaction, the chief executive officer owned 158,387 shares of the company’s stock, valued at $4,106,974.91. This represents a 12.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Craig D. Nichols sold 4,000 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $23.24, for a total value of $92,960.00. Following the completion of the transaction, the senior vice president directly owned 146 shares in the company, valued at approximately $3,393.04. This trade represents a 96.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 54,994 shares of company stock worth $1,354,295 in the last ninety days. 5.60% of the stock is owned by company insiders.

Mayville Engineering Company Profile

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.