Mayville Engineering (NYSE:MEC) Issues Earnings Results

Mayville Engineering (NYSE:MEC) released its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.18), Zacks reports. Mayville Engineering had a return on equity of 8.21% and a net margin of 3.41%. Mayville Engineering updated its FY 2025 guidance to EPS.

Mayville Engineering Trading Up 2.4%

Shares of NYSE MEC traded up $0.42 during trading on Tuesday, hitting $18.08. 318,058 shares of the company traded hands, compared to its average volume of 240,620. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $367.30 million, a P/E ratio of 21.27 and a beta of 1.21. The company has a 50-day moving average price of $14.57 and a 200-day moving average price of $14.92. Mayville Engineering has a 1 year low of $11.72 and a 1 year high of $21.83.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MEC. Northland Capmk raised Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Citigroup restated a “buy” rating and issued a $21.00 price target (up previously from $17.00) on shares of Mayville Engineering in a report on Monday, July 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a research report on Wednesday, October 8th. Northland Securities upgraded shares of Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a research report on Tuesday, August 12th. Finally, Craig Hallum set a $24.00 price objective on Mayville Engineering and gave the stock a “buy” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Mayville Engineering currently has an average rating of “Buy” and a consensus price target of $21.50.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, CEO Jagadeesh A. Reddy purchased 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average cost of $14.06 per share, with a total value of $105,450.00. Following the transaction, the chief executive officer owned 146,285 shares in the company, valued at approximately $2,056,767.10. This trade represents a 5.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have acquired 9,400 shares of company stock valued at $131,942. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On Mayville Engineering

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC lifted its position in shares of Mayville Engineering by 9.5% during the second quarter. Geode Capital Management LLC now owns 318,321 shares of the company’s stock worth $5,081,000 after purchasing an additional 27,552 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Mayville Engineering by 0.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 268,635 shares of the company’s stock worth $4,287,000 after acquiring an additional 2,235 shares during the last quarter. Bridgeway Capital Management LLC lifted its stake in shares of Mayville Engineering by 4.6% in the second quarter. Bridgeway Capital Management LLC now owns 222,654 shares of the company’s stock worth $3,554,000 after acquiring an additional 9,779 shares in the last quarter. Empowered Funds LLC boosted its holdings in Mayville Engineering by 7.3% in the first quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock valued at $1,319,000 after purchasing an additional 6,694 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Mayville Engineering by 5.2% in the 2nd quarter. Sei Investments Co. now owns 51,490 shares of the company’s stock valued at $822,000 after purchasing an additional 2,553 shares in the last quarter. Hedge funds and other institutional investors 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.