Equities Analysts Issue Forecasts for MEC FY2025 Earnings

Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) - William Blair lowered their FY2025 EPS estimates for Mayville Engineering in a research note issued on Wednesday, November 6th. William Blair analyst R. Sparenblek now forecasts that the company will post earnings per share of $1.26 for the year, down from their previous estimate of $1.28. The consensus estimate for Mayville Engineering's current full-year earnings is $0.68 per share.

A number of other brokerages have also recently commented on MEC. Northland Securities cut shares of Mayville Engineering from an "outperform" rating to a "market perform" rating and cut their price target for the stock from $30.00 to $20.00 in a research note on Thursday. Northland Capmk lowered shares of Mayville Engineering from a "strong-buy" rating to a "hold" rating in a report on Thursday.

Mayville Engineering Price Performance

MEC traded down $0.11 during midday trading on Monday, reaching $17.04. 229,266 shares of the company's stock were exchanged, compared to its average volume of 94,638. The firm has a market capitalization of $351.71 million, a price-to-earnings ratio of 29.36 and a beta of 0.97. The company has a quick ratio of 0.97, a current ratio of 1.77 and a debt-to-equity ratio of 0.47. Mayville Engineering has a one year low of $11.07 and a one year high of $23.02. The business has a 50-day simple moving average of $19.91 and a two-hundred day simple moving average of $18.00.

Mayville Engineering (NYSE:MEC - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). The company had revenue of $135.39 million during the quarter, compared to the consensus estimate of $157.22 million. Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. During the same quarter in the previous year, the business posted $0.21 EPS.

Institutional Trading of Mayville Engineering

Several hedge funds and other institutional investors have recently modified their holdings of the company. First Eagle Investment Management LLC bought a new position in shares of Mayville Engineering in the 1st quarter valued at about $713,000. Vanguard Group Inc. grew its holdings in Mayville Engineering by 7.9% during the first quarter. Vanguard Group Inc. now owns 538,175 shares of the company's stock worth $7,712,000 after purchasing an additional 39,460 shares during the period. Russell Investments Group Ltd. grew its holdings in Mayville Engineering by 65.6% during the first quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company's stock worth $2,203,000 after purchasing an additional 60,896 shares during the period. Harbor Capital Advisors Inc. bought a new position in Mayville Engineering during the second quarter worth about $587,000. Finally, Ritholtz Wealth Management bought a new position in Mayville Engineering during the second quarter worth about $191,000. Institutional investors and hedge funds own 45.44% of the company's stock.

Insider Activity at Mayville Engineering

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

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.