Mayville Engineering Company, Inc. (NYSE:MEC) EVP Ryan F. Raber Sells 21,508 Shares of Stock

Mayville Engineering Company, Inc. (NYSE:MEC) EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total value of $411,878.20. Following the completion of the sale, the executive vice president now directly owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Mayville Engineering Stock Up 2.0 %

Shares of MEC opened at $19.80 on Tuesday. The company’s 50-day moving average price is $17.91 and its 200 day moving average price is $15.47. Mayville Engineering Company, Inc. has a 12-month low of $9.72 and a 12-month high of $19.94. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The firm has a market cap of $406.43 million, a P/E ratio of 47.14 and a beta of 0.94.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $163.64 million for the quarter, compared to the consensus estimate of $160.38 million. Mayville Engineering had a net margin of 1.40% and a return on equity of 6.01%. On average, sell-side analysts forecast that Mayville Engineering Company, Inc. will post 0.66 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on MEC. Northland Securities raised their price objective on shares of Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th. William Blair upgraded shares of Mayville Engineering to a “strong-buy” rating in a report on Wednesday, May 8th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of Mayville Engineering in the first quarter valued at $73,000. BNP Paribas Financial Markets grew its position in Mayville Engineering by 49.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after acquiring an additional 1,799 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in Mayville Engineering during the first quarter worth about $147,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Mayville Engineering during the second quarter worth about $189,000. Finally, Ritholtz Wealth Management purchased a new position in shares of Mayville Engineering in the second quarter valued at approximately $191,000. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.