Mayville Engineering (NYSE:MEC) Lowered to "Hold" Rating by Northland Capmk

Mayville Engineering (NYSE:MEC - Get Free Report) was downgraded by equities researchers at Northland Capmk from a "strong-buy" rating to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Separately, Northland Securities lowered shares of Mayville Engineering from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $30.00 to $20.00 in a report on Thursday.

Mayville Engineering Trading Up 4.2 %

MEC traded up $0.69 during trading on Thursday, hitting $17.15. 348,677 shares of the company's stock were exchanged, compared to its average volume of 94,016. Mayville Engineering has a 1 year low of $10.75 and a 1 year high of $23.02. The stock has a 50 day moving average price of $19.96 and a 200 day moving average price of $17.92. The firm has a market cap of $353.63 million, a P/E ratio of 31.62 and a beta of 0.97. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51.

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

Insider Activity at Mayville Engineering

In other news, EVP Ryan F. Raber sold 21,508 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,858,564.95. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Ryan F. Raber sold 21,508 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was 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 directly owns 97,053 shares in the company, valued at approximately $1,858,564.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jagadeesh A. Reddy acquired 5,903 shares of Mayville Engineering stock in a transaction that occurred on Thursday, November 7th. The shares were purchased at an average price of $16.72 per share, for a total transaction of $98,698.16. Following the completion of the purchase, the chief executive officer now directly owns 89,052 shares of the company's stock, valued at $1,488,949.44. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Mayville Engineering

A number of large investors have recently bought and sold shares of the business. US Bancorp DE acquired a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $60,000. Lazard Asset Management LLC bought a new stake in Mayville Engineering in the first quarter valued at $73,000. BNP Paribas Financial Markets boosted its holdings in shares of 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 acquiring an additional 1,799 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of Mayville Engineering during the first quarter worth about $147,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Mayville Engineering during the 2nd quarter valued at about $189,000. 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.