UBS Group AG Boosts Stock Holdings in Mayville Engineering Company, Inc. $MEC

Key Points

• UBS Group AG increased its stake in Mayville Engineering by 38.6% in the fourth quarter, buying 40,798 additional shares and lifting its holding to 146,552 shares worth about $2.74 million.
• Wall Street sentiment is mixed but mostly positive: the stock has four Buy ratings, one Hold, and one Sell, with a consensus rating of “Moderate Buy” and an average target price of $29.75.
• Mayville Engineering reported better-than-expected quarterly results, posting a smaller-than-expected loss per share and higher-than-forecast revenue, while CEO Jagadeesh A. Reddy recently sold shares and insiders have sold 30,994 shares over the past 90 days.

UBS Group AG boosted its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 38.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 146,552 shares of the company's stock after purchasing an additional 40,798 shares during the period. UBS Group AG owned approximately 0.72% of Mayville Engineering worth $2,743,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of MEC. State of Alaska Department of Revenue acquired a new stake in shares of Mayville Engineering in the fourth quarter worth $73,000. Wealth Enhancement Advisory Services LLC increased its position in shares of Mayville Engineering by 6.2% in the fourth 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. Jacobs Levy Equity Management Inc. increased its position in shares of Mayville Engineering by 24.9% in the third quarter. Jacobs Levy Equity Management Inc. now owns 170,335 shares of the company's stock worth $2,344,000 after acquiring an additional 33,952 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Mayville Engineering by 54.0% in the third quarter. Public Employees Retirement System of Ohio now owns 16,689 shares of the company's stock worth $230,000 after acquiring an additional 5,855 shares in the last quarter. Finally, 22NW LP increased its position in shares of Mayville Engineering by 157.2% in the third quarter. 22NW LP now owns 399,890 shares of the company's stock worth $5,502,000 after acquiring an additional 244,440 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MEC shares. Weiss Ratings lowered shares of Mayville Engineering from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Thursday, March 5th. Northland Securities set a $30.00 price objective on shares of Mayville Engineering in a research report on Thursday, May 7th. DA Davidson increased their price objective 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. Citigroup lifted their price target on shares of Mayville Engineering from $25.00 to $33.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Finally, Zacks Research raised shares of Mayville Engineering from a "strong sell" rating to a "hold" rating in a research note on Friday, March 6th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $29.75.

Mayville Engineering Stock Performance

Mayville Engineering stock opened at $25.39 on Tuesday. Mayville Engineering Company, Inc. has a 12-month low of $12.10 and a 12-month high of $28.15. The company has a market capitalization of $520.14 million, a price-to-earnings ratio of -31.73 and a beta of 1.24. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.64 and a quick ratio of 0.91. The firm's fifty day moving average price is $21.02 and its 200 day moving average price is $19.48.

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

Insider Buying and Selling at Mayville Engineering

In other Mayville Engineering news, insider Sean P. Leuba sold 2,500 shares of the firm's stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $20.07, for a total transaction of $50,175.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagadeesh A. Reddy sold 21,796 shares of the firm's stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $25.93, for a total transaction of $565,170.28. Following the transaction, the chief executive officer directly owned 158,387 shares of the company's stock, valued at approximately $4,106,974.91. This represents a 12.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 30,994 shares of company stock worth $741,335 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Mayville Engineering Company Profile

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.

Want to see what other hedge funds are holding MEC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mayville Engineering Company, Inc. (NYSE:MEC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.