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

Mayville Engineering Company, Inc. (NYSE:MEC) insider Sean Leuba sold 6,698 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $18.81, for a total transaction of $125,989.38. Following the transaction, the insider directly owned 11,841 shares in the company, valued at approximately $222,729.21. The trade was a 36.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Mayville Engineering Stock Down 1.7%

MEC stock traded down $0.33 during trading hours on Monday, hitting $18.85. The company’s stock had a trading volume of 142,595 shares, compared to its average volume of 175,960. The company has a quick ratio of 0.92, a current ratio of 1.72 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $382.99 million, a PE 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 stock has a 50 day moving average price of $19.82 and a two-hundred day moving average price of $17.10.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, March 3rd. The company reported ($0.08) earnings per share 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 business had revenue of $134.27 million for the quarter, compared to the consensus estimate of $132.51 million. On average, equities research analysts expect that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Empowered Funds LLC boosted its position in shares of Mayville Engineering by 7.3% in the first quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock valued at $1,319,000 after acquiring an additional 6,694 shares during the period. Jane Street Group LLC increased its position in Mayville Engineering by 158.6% during the first quarter. Jane Street Group LLC now owns 47,194 shares of the company’s stock worth $634,000 after acquiring an additional 28,946 shares during the period. First Eagle Investment Management LLC increased its position in Mayville Engineering by 0.6% during the second quarter. First Eagle Investment Management LLC now owns 354,075 shares of the company’s stock worth $5,651,000 after acquiring an additional 2,200 shares during the period. Geode Capital Management LLC raised its stake 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. Finally, Bailard Inc. acquired a new position in Mayville Engineering during the 2nd quarter valued at $284,000. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Zacks Research downgraded Mayville Engineering from a “hold” rating to a “strong sell” rating in a research note on Wednesday, January 21st. Weiss Ratings cut Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday. Citigroup increased their price target on Mayville Engineering from $24.00 to $25.00 and gave the company a “buy” rating in a report on Thursday. Northland Securities raised shares of 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 research report on Thursday. Finally, DA Davidson upped their price objective on shares of Mayville Engineering from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Monday. Four research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $24.25.

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.