30,000 Shares in Mayville Engineering Company, Inc. $MEC Bought by North Star Investment Management Corp.

North Star Investment Management Corp. bought a new stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 30,000 shares of the company’s stock, valued at approximately $538,000. North Star Investment Management Corp. owned about 0.15% of Mayville Engineering at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MEC. EVR Research LP acquired a new stake in Mayville Engineering during the fourth quarter worth about $11,326,000. Ameriprise Financial Inc. raised 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 worth $5,424,000 after purchasing an additional 354,514 shares during the period. 22NW LP lifted its holdings in shares of Mayville Engineering by 157.2% in the 3rd quarter. 22NW LP now owns 399,890 shares of the company’s stock worth $5,502,000 after purchasing an additional 244,440 shares during the last quarter. Congruence Capital LLC acquired a new position in Mayville Engineering during the 4th quarter valued at approximately $3,896,000. Finally, Blair William & Co. IL grew its stake in Mayville Engineering by 54.8% during the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company’s stock worth $10,928,000 after buying an additional 206,549 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $37.45 on Wednesday. The stock has a market cap of $767.41 million, a price-to-earnings ratio of -46.82 and a beta of 1.29. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 0.91. Mayville Engineering Company, Inc. has a 12 month low of $12.10 and a 12 month high of $38.76. The stock’s 50 day moving average price is $28.72 and its 200 day moving average price is $22.56.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating 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. Equities research analysts anticipate that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Mayville Engineering

In related news, EVP Ryan F. Raber sold 20,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total transaction of $520,000.00. Following the completion of the sale, the executive vice president directly owned 86,970 shares of the company’s stock, valued at $2,261,220. This represents a 18.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagadeesh A. Reddy sold 15,688 shares of Mayville Engineering stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $35.05, for a total transaction of $549,864.40. Following the completion of the transaction, the chief executive officer owned 124,105 shares in the company, valued at approximately $4,349,880.25. This trade represents a 11.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 80,726 shares of company stock valued at $2,311,768. 5.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Northland Securities set a $30.00 price target on shares of Mayville Engineering in a report on Thursday, May 7th. Zacks Research upgraded shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. Citigroup lifted their price target on Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a report on Friday, May 8th. DA Davidson raised their target price on Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Finally, Weiss Ratings lowered Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $29.75.

Mayville Engineering 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.