Sean Leuba Sells 12,855 Shares of Mayville Engineering (NYSE:MEC) Stock

Mayville Engineering Company, Inc. (NYSE:MEC) SVP Sean Leuba sold 12,855 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $25.44, for a total transaction of $327,031.20. Following the completion of the transaction, the senior vice president owned 6,633 shares of the company’s stock, valued at approximately $168,743.52. This trade represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $24.09 on Friday. The firm has a market cap of $493.62 million, a PE ratio of -28.67 and a beta of 1.27. The firm’s fifty day moving average is $32.11 and its 200-day moving average is $24.80. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 1.70. Mayville Engineering Company, Inc. has a 52 week low of $12.25 and a 52 week high of $38.76.

Mayville Engineering (NYSE:MEC) last announced its earnings results on Tuesday, August 4th. The company reported $0.07 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.12. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%.The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $150.59 million. Sell-side analysts predict that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current year.

Institutional Investors Weigh In On Mayville Engineering

A number of institutional investors and hedge funds have recently made changes to their positions in MEC. BlackRock Inc. purchased a new stake in Mayville Engineering in the 2nd quarter valued at $44,332,000. EVR Research LP bought a new stake in shares of Mayville Engineering in the 4th quarter worth $11,326,000. Ameriprise Financial Inc. raised its holdings in shares of Mayville Engineering by 894.2% in the third quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company’s stock valued at $5,424,000 after purchasing an additional 354,514 shares during the last quarter. Congruence Capital LLC bought a new position in shares of Mayville Engineering during the fourth quarter valued at about $3,896,000. Finally, Blair William & Co. IL lifted its position in shares of Mayville Engineering by 54.8% during the fourth quarter. Blair William & Co. IL now owns 583,759 shares of the company’s stock valued at $10,928,000 after purchasing an additional 206,549 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MEC. Weiss Ratings reiterated a “sell (d+)” rating on shares of Mayville Engineering in a report on Friday, July 10th. DA Davidson boosted their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, July 22nd. Citigroup upped their price objective on shares of Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Northland Securities set a $40.00 price objective on shares of Mayville Engineering in a research report on Thursday. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Mayville Engineering presently has a consensus rating of “Moderate Buy” and an average price target of $35.75.

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.