Mayville Engineering (NYSE:MEC) Stock Rating Lowered by Northland Securities

Mayville Engineering (NYSE:MEC) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a research note issued to investors on Thursday, FinViz reports. They presently have a $20.00 price target on the stock, down from their prior price target of $30.00. Northland Securities’ price objective indicates a potential upside of 14.09% from the company’s previous close.

Mayville Engineering Trading Down 19.6 %

Shares of MEC stock opened at $17.53 on Thursday. Mayville Engineering has a 1 year low of $10.75 and a 1 year high of $23.02. The firm has a fifty day moving average price of $20.02 and a 200-day moving average price of $17.93. 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 cap of $361.47 million, a price-to-earnings ratio of 33.71 and a beta of 0.97.

Mayville Engineering (NYSE:MEC) last released its earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. The firm had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the firm posted $0.21 EPS. As a group, equities analysts predict that Mayville Engineering will post 0.68 earnings per share for the current year.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the business’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 sale, the executive vice president now owns 97,053 shares in the company, valued at $1,858,564.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Institutional Trading of Mayville Engineering

Large investors have recently made changes to their positions in the business. First Eagle Investment Management LLC bought a new stake in shares of Mayville Engineering in the 1st quarter worth about $713,000. Vanguard Group Inc. grew its holdings in Mayville Engineering by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock valued at $7,712,000 after purchasing an additional 39,460 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Mayville Engineering by 65.6% during the 1st quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock valued at $2,203,000 after purchasing an additional 60,896 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in Mayville Engineering during the 2nd quarter valued at about $587,000. Finally, Ritholtz Wealth Management bought a new position in Mayville Engineering during the 2nd quarter valued at about $191,000. 45.44% of the stock is currently owned by 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.