Sean Leuba Sells 12,855 Shares of Mayville Engineering (NYSE:MEC) Stock

Key Points

• Insider sale: Mayville Engineering SVP Sean Leuba sold 12,855 shares for approximately $327,000, reducing his position by 65.96% to 6,633 shares.
• Recent performance: MEC shares fell $0.74 to $24.09, while the company reported quarterly EPS of $0.07, beating estimates by $0.12, and revenue of $162.98 million, above forecasts.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus with an average price target of $35.75; four rate the stock Buy, one Hold, and one Sell.

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) SVP Sean Leuba sold 12,855 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $25.44, for a total value of $327,031.20. Following the transaction, the senior vice president owned 6,633 shares in the company, valued at approximately $168,743.52. This trade represents a 65.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Mayville Engineering Stock Performance

Shares of NYSE:MEC traded down $0.74 during trading on Friday, reaching $24.09. The stock had a trading volume of 783,767 shares, compared to its average volume of 361,614. The stock has a fifty day simple moving average of $32.17 and a two-hundred day simple moving average of $24.81. The company has a quick ratio of 0.91, a current ratio of 1.64 and a debt-to-equity ratio of 0.91. Mayville Engineering Company, Inc. has a 52 week low of $12.25 and a 52 week high of $38.76. The firm has a market capitalization of $493.52 million, a price-to-earnings ratio of -28.67 and a beta of 1.27.

Mayville Engineering (NYSE:MEC - Get Free Report) last released its earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of ($0.05) by $0.12. Mayville Engineering had a negative net margin of 2.95% and a negative return on equity of 7.23%. The firm had revenue of $162.98 million during the quarter, compared to analyst estimates of $150.59 million. As a group, analysts anticipate that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on MEC shares. Weiss Ratings restated a "sell (d+)" rating on shares of Mayville Engineering in a research report on Friday, July 10th. Northland Securities set a $40.00 price objective on Mayville Engineering in a research report on Thursday. DA Davidson lifted their price objective on Mayville Engineering from $32.00 to $36.00 and gave the stock a "buy" rating in a report on Wednesday, July 22nd. Finally, Citigroup raised their target price on Mayville Engineering from $33.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, July 13th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Mayville Engineering currently has an average rating of "Moderate Buy" and an average target price of $35.75.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets increased its position in shares of Mayville Engineering by 109.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company's stock worth $38,000 after purchasing an additional 1,435 shares in the last quarter. Clearstead Advisors LLC boosted its position in Mayville Engineering by 194.9% in the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company's stock valued at $39,000 after buying an additional 1,384 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Mayville Engineering during the fourth quarter worth about $73,000. Persistent Asset Partners Ltd bought a new stake in Mayville Engineering during the second quarter worth about $80,000. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Mayville Engineering during the fourth quarter worth approximately $109,000. 45.44% of the stock is owned by institutional investors.

About Mayville Engineering

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.

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