Mayville Engineering Company, Inc. (NYSE:MEC) CEO Jagadeesh A. Reddy Purchases 5,903 Shares

Mayville Engineering Company, Inc. (NYSE:MEC) CEO Jagadeesh A. Reddy acquired 5,903 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were bought at an average cost of $16.72 per share, for a total transaction of $98,698.16. Following the acquisition, the chief executive officer now directly owns 89,052 shares in the company, valued at $1,488,949.44. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Mayville Engineering Price Performance

MEC opened at $16.44 on Friday. The stock’s 50 day simple moving average is $19.96 and its 200 day simple moving average is $17.92. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. Mayville Engineering Company, Inc. has a 1 year low of $10.75 and a 1 year high of $23.02. The firm 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 results 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 company had revenue of $135.39 million for the quarter, compared to the consensus estimate of $157.22 million. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. During the same quarter in the previous year, the business earned $0.21 earnings per share. As a group, analysts predict that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current year.

Analyst Ratings Changes

MEC has been the topic of several recent research reports. Northland Capmk lowered Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Northland Securities lowered Mayville Engineering from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $30.00 to $20.00 in a research report on Thursday.

Institutional Investors Weigh In On Mayville Engineering

Large investors have recently made changes to their positions in the business. US Bancorp DE bought a new stake in shares of Mayville Engineering in the 3rd quarter worth approximately $60,000. Lazard Asset Management LLC bought a new stake in shares of Mayville Engineering in the 1st quarter worth approximately $73,000. BNP Paribas Financial Markets lifted its stake in shares of 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 purchasing an additional 1,799 shares during the period. Janney Montgomery Scott LLC purchased a new position in shares of Mayville Engineering in the 1st quarter valued at approximately $147,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at approximately $189,000. 45.44% of the stock is currently owned by institutional investors.

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.