Mayville Engineering Company, Inc. (NYSE:MEC) CEO Purchases $98,698.16 in Stock

Mayville Engineering Company, Inc. (NYSE:MEC) CEO Jagadeesh A. Reddy bought 5,903 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were acquired at an average price of $16.72 per share, for a total transaction of $98,698.16. Following the completion of the transaction, the chief executive officer now directly owns 89,052 shares in the company, valued at approximately $1,488,949.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Mayville Engineering Price Performance

Shares of MEC stock opened at $17.15 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. The company has a market capitalization of $353.63 million, a P/E ratio of 29.07 and a beta of 0.97. The company’s 50-day simple moving average is $19.91 and its two-hundred day simple moving average is $17.94. Mayville Engineering Company, Inc. has a one year low of $10.75 and a one year high of $23.02.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.22%. The business had revenue of $135.39 million for the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the prior year, the business posted $0.21 earnings per share. As a group, equities analysts anticipate that Mayville Engineering Company, Inc. will post 0.68 EPS for the current year.

Institutional Investors Weigh In On Mayville Engineering

Several institutional investors have recently bought and sold shares of the company. Tocqueville Asset Management L.P. boosted its stake in Mayville Engineering by 0.5% in the first 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. raised its holdings in shares of Mayville Engineering by 7.9% during the first quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock worth $7,712,000 after purchasing an additional 39,460 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Mayville Engineering by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock worth $8,618,000 after purchasing an additional 77,486 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Mayville Engineering by 404.2% during the second quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock worth $4,178,000 after purchasing an additional 201,047 shares during the last quarter. Finally, Ancora Advisors LLC raised its holdings in shares of Mayville Engineering by 0.4% during the first quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock worth $3,558,000 after purchasing an additional 1,100 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Securities lowered shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $30.00 to $20.00 in a research report on Thursday. Northland Capmk downgraded shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday.

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.