Mayville Engineering (NYSE:MEC) Lowered to “Hold” Rating by Northland Capmk

Northland Capmk cut shares of Mayville Engineering (NYSE:MEC) from a strong-buy rating to a hold rating in a report published on Thursday,Zacks.com reports.

Separately, Northland Securities downgraded shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $30.00 to $20.00 in a research note on Thursday.

Mayville Engineering Price Performance

Shares of MEC stock opened at $17.15 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.97 and a current ratio of 1.77. The firm has a market cap of $353.98 million, a P/E ratio of 29.07 and a beta of 0.97. The business’s 50 day moving average price is $19.91 and its 200-day moving average price is $17.97. Mayville Engineering has a fifty-two week low of $10.75 and a fifty-two week high of $23.02.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. The company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter last year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that Mayville Engineering will post 0.68 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Ryan F. Raber sold 21,508 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $19.15, for a total transaction of $411,878.20. Following the sale, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Jagadeesh A. Reddy bought 5,903 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were purchased at an average cost of $16.72 per share, with a total value of $98,698.16. Following the completion of the purchase, the chief executive officer now owns 89,052 shares in the company, valued at approximately $1,488,949.44. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value of $411,878.20. Following the transaction, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Mayville Engineering

Several institutional investors have recently bought and sold shares of the company. US Bancorp DE purchased a new stake in Mayville Engineering during the 3rd quarter valued at $60,000. Lazard Asset Management LLC purchased a new stake in shares of Mayville Engineering during the first quarter valued at $73,000. BNP Paribas Financial Markets increased its holdings in Mayville Engineering by 49.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock worth $78,000 after buying an additional 1,799 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Mayville Engineering in the 1st quarter worth about $147,000. Finally, Cubist Systematic Strategies LLC bought a new position in Mayville Engineering during the 2nd quarter valued at about $189,000. 45.44% of the stock is owned by hedge funds and other institutional investors.

About Mayville Engineering

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.