Mayville Engineering (NYSE:MEC) Downgraded by Northland Capmk to Hold

Mayville Engineering (NYSE:MEC) was downgraded by Northland Capmk from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday,Zacks.com reports.

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

Mayville Engineering Stock Down 6.2 %

NYSE:MEC opened at $16.44 on Thursday. The stock’s fifty day moving average price is $19.96 and its two-hundred day moving average price is $17.92. Mayville Engineering has a 52-week low of $10.75 and a 52-week high of $23.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 1.71. The company has a market cap of $338.99 million, a price-to-earnings ratio of 31.62 and a beta of 0.97.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.05). The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $157.22 million. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. During the same period in the prior year, the company posted $0.21 EPS. On average, analysts anticipate that Mayville Engineering will post 0.68 EPS for the current year.

Insider Activity at Mayville Engineering

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

Hedge Funds Weigh In On Mayville Engineering

Large investors have recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. grew its holdings in shares of Mayville Engineering by 0.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company’s stock valued at $9,220,000 after acquiring an additional 3,000 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Mayville Engineering by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock valued at $7,712,000 after acquiring an additional 39,460 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Mayville Engineering by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock valued at $8,618,000 after acquiring an additional 77,486 shares in the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Mayville Engineering by 404.2% in the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock valued at $4,178,000 after acquiring an additional 201,047 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Mayville Engineering by 0.4% in the 1st quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock valued at $3,558,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 45.44% of the company’s stock.

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.