Mayville Engineering’s (MEC) Outperform Rating Reaffirmed at Northland Securities

Northland Securities reiterated their outperform rating on shares of Mayville Engineering (NYSE:MEC) in a research report sent to investors on Tuesday morning, Benzinga reports. Northland Securities currently has a $30.00 price objective on the stock.

Mayville Engineering Stock Up 5.7 %

NYSE MEC opened at $21.00 on Tuesday. The stock has a market cap of $433.02 million, a PE ratio of 40.39 and a beta of 0.95. The business has a 50 day moving average price of $19.33 and a two-hundred day moving average price of $17.02. Mayville Engineering has a fifty-two week low of $9.72 and a fifty-two week high of $22.07. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.51.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. The business had revenue of $163.64 million during the quarter, compared to analyst estimates of $160.38 million. As a group, sell-side analysts predict that Mayville Engineering will post 0.68 EPS for the current fiscal year.

Insider Activity at Mayville Engineering

In related news, EVP Ryan F. Raber sold 21,508 shares of Mayville Engineering 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 approximately $1,858,564.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

Institutional Trading of Mayville Engineering

Several institutional investors and hedge funds have recently bought and sold shares of MEC. Lazard Asset Management LLC bought a new stake in shares of Mayville Engineering in the 1st quarter valued at approximately $73,000. BNP Paribas Financial Markets increased its stake in Mayville Engineering by 49.6% during the first quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after purchasing an additional 1,799 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of Mayville Engineering during the first quarter worth $147,000. Cubist Systematic Strategies LLC acquired a new position in shares of Mayville Engineering in the 2nd quarter valued at about $189,000. Finally, Ritholtz Wealth Management bought a new stake in shares of Mayville Engineering during the 2nd quarter valued at about $191,000. Institutional investors and hedge funds 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.