Mayville Engineering (NYSE:MEC) Given "Outperform" Rating at Northland Securities

Mayville Engineering (NYSE:MEC - Get Free Report)'s stock had its "outperform" rating reissued by investment analysts at Northland Securities in a research note issued to investors on Tuesday, Benzinga reports. They presently have a $30.00 price target on the stock. Northland Securities' price target points to a potential upside of 49.70% from the stock's current price.

Mayville Engineering Stock Down 0.4 %

Shares of Mayville Engineering stock traded down $0.08 during trading on Tuesday, reaching $20.04. The company's stock had a trading volume of 77,387 shares, compared to its average volume of 87,211. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.51. The company has a market cap of $411.36 million, a price-to-earnings ratio of 47.76 and a beta of 0.95. Mayville Engineering has a 1-year low of $9.72 and a 1-year high of $22.07. The company has a 50-day simple moving average of $19.27 and a two-hundred day simple moving average of $16.93.

Mayville Engineering (NYSE:MEC - Get Free Report) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. The company had revenue of $163.64 million during the quarter, compared to analysts' expectations of $160.38 million. As a group, equities analysts forecast that Mayville Engineering will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Mayville Engineering

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of Mayville Engineering stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $19.15, for a total transaction of $411,878.20. Following the completion of the transaction, the executive vice president now owns 97,053 shares in the company, valued at approximately $1,858,564.95. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company's stock.

Hedge Funds Weigh In On Mayville Engineering

Institutional investors and hedge funds have recently modified their holdings of the business. Ancora Advisors LLC boosted its holdings in Mayville Engineering by 0.4% in the 1st quarter. Ancora Advisors LLC now owns 248,280 shares of the company's stock worth $3,558,000 after buying an additional 1,100 shares during the last quarter. Pullen Investment Management LLC boosted its holdings in Mayville Engineering by 4.1% in the 2nd quarter. Pullen Investment Management LLC now owns 39,686 shares of the company's stock worth $661,000 after buying an additional 1,578 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Mayville Engineering by 49.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company's stock worth $78,000 after buying an additional 1,799 shares during the last quarter. Kennedy Capital Management LLC boosted its holdings in Mayville Engineering by 2.1% in the 1st quarter. Kennedy Capital Management LLC now owns 96,831 shares of the company's stock worth $1,388,000 after buying an additional 1,980 shares during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in shares of Mayville Engineering by 0.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company's stock worth $9,220,000 after purchasing an additional 3,000 shares during 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.