Mayville Engineering Company, Inc. $MEC Shares Bought by UBS Group AG

UBS Group AG grew its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 38.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,552 shares of the company’s stock after acquiring an additional 40,798 shares during the period. UBS Group AG’s holdings in Mayville Engineering were worth $2,743,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its holdings in Mayville Engineering by 3.0% during the 3rd quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after acquiring an additional 740 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Mayville Engineering by 6.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 13,792 shares of the company’s stock worth $245,000 after acquiring an additional 800 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Mayville Engineering by 20.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock worth $127,000 after acquiring an additional 1,359 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Mayville Engineering by 109.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after buying an additional 1,435 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in shares of Mayville Engineering by 8.3% in the 2nd quarter. Rhumbline Advisers now owns 19,969 shares of the company’s stock worth $319,000 after buying an additional 1,526 shares during the last quarter. 45.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup raised their price target on shares of Mayville Engineering from $25.00 to $33.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Zacks Research upgraded shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. DA Davidson raised their price target on shares of Mayville Engineering from $23.00 to $32.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, Northland Securities set a $30.00 price target on shares of Mayville Engineering in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.75.

Insider Activity

In related news, CEO Jagadeesh A. Reddy sold 21,796 shares of Mayville Engineering stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $25.93, for a total value of $565,170.28. Following the sale, the chief executive officer directly owned 158,387 shares in the company, valued at $4,106,974.91. This trade represents a 12.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sean P. Leuba sold 2,500 shares of Mayville Engineering stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $20.07, for a total transaction of $50,175.00. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 30,994 shares of company stock worth $741,335. 5.60% of the stock is currently owned by insiders.

Mayville Engineering Trading Down 0.3%

Mayville Engineering stock opened at $25.39 on Tuesday. The firm’s 50-day moving average is $21.02 and its 200-day moving average is $19.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.91 and a current ratio of 1.64. Mayville Engineering Company, Inc. has a 1 year low of $12.10 and a 1 year high of $28.15. The company has a market cap of $520.14 million, a P/E ratio of -31.73 and a beta of 1.24.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.15) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.13. The company had revenue of $144.78 million for the quarter, compared to the consensus estimate of $139.18 million. Mayville Engineering had a negative net margin of 2.93% and a negative return on equity of 5.77%. On average, equities analysts expect that Mayville Engineering Company, Inc. will post -0.23 earnings per share for the current year.

About Mayville Engineering

Mayville Engineering Company, Inc (NYSE:MEC) is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.