Jagadeesh Reddy Sells 17,942 Shares of Mayville Engineering (NYSE:MEC) Stock

Mayville Engineering Company, Inc. (NYSE:MEC) CEO Jagadeesh Reddy sold 17,942 shares of Mayville Engineering stock in a transaction on Monday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $538,260.00. Following the completion of the sale, the chief executive officer owned 140,445 shares in the company, valued at approximately $4,213,350. This represents a 11.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Mayville Engineering Stock Performance

Shares of NYSE MEC opened at $32.59 on Thursday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 1.64. The company has a market cap of $667.69 million, a P/E ratio of -40.73 and a beta of 1.29. The firm’s fifty day moving average is $22.68 and its two-hundred day moving average is $20.09. Mayville Engineering Company, Inc. has a 52-week low of $12.10 and a 52-week high of $33.50.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.13. Mayville Engineering had a negative net margin of 2.93% and a negative return on equity of 5.77%. The company had revenue of $144.78 million for the quarter, compared to the consensus estimate of $139.18 million. As a group, analysts anticipate that Mayville Engineering Company, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup boosted their target price on shares of Mayville Engineering from $25.00 to $33.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Northland Securities set a $30.00 target price 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 report on Friday, March 6th. Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, March 5th. Finally, DA Davidson boosted their target price on shares of Mayville Engineering from $23.00 to $32.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Mayville Engineering presently has a consensus rating of “Moderate Buy” and an average price target of $29.75.

Hedge Funds Weigh In On Mayville Engineering

Several hedge funds have recently added to or reduced their stakes in MEC. Empowered Funds LLC grew its holdings in Mayville Engineering by 7.3% during the 1st quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock valued at $1,319,000 after purchasing an additional 6,694 shares during the last quarter. Jane Street Group LLC grew its holdings in Mayville Engineering by 158.6% during the 1st quarter. Jane Street Group LLC now owns 47,194 shares of the company’s stock valued at $634,000 after purchasing an additional 28,946 shares during the last quarter. Geode Capital Management LLC grew its holdings in Mayville Engineering by 9.5% during the 2nd quarter. Geode Capital Management LLC now owns 318,321 shares of the company’s stock valued at $5,081,000 after purchasing an additional 27,552 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Mayville Engineering by 20.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Rhumbline Advisers grew its holdings in Mayville Engineering by 8.3% during the 2nd quarter. Rhumbline Advisers now owns 19,969 shares of the company’s stock valued at $319,000 after purchasing an additional 1,526 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering News Summary

Here are the key news stories impacting Mayville Engineering this week:

• Positive Sentiment: Northland Securities raised several earnings estimates for MEC, including higher forecasts for Q2 and Q3 2026 as well as FY2027 and FY2028. The revisions suggest analysts see improving profitability ahead, which is supporting sentiment around the stock.
• Positive Sentiment: Mayville Engineering was named the number one fabricator for the sixteenth consecutive year, reinforcing its competitive positioning and operational reputation. Mayville Engineering Company Named Number One Fabricator for Sixteenth Consecutive Year
• Neutral Sentiment: Northland’s outlook still implies Mayville Engineering may remain near break-even in the near term, with the current fiscal year expected to be in the red, so the earnings recovery story is still developing.
• Neutral Sentiment: CEO Jagadeesh A. Reddy sold 17,942 shares at $30 each, trimming his stake by about 11.3%. Insider selling can weigh on sentiment, but the transaction alone does not necessarily signal a change in business fundamentals. SEC Form 4

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.