Ryan F. Raber Acquires 2,500 Shares of Mayville Engineering Company, Inc. (NYSE:MEC) Stock

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Mayville Engineering Company, Inc. (NYSE:MEC) EVP Ryan F. Raber purchased 2,500 shares of the business’s stock in a transaction on Thursday, October 31st. The stock was purchased at an average price of $9.97 per share, with a total value of $24,925.00.

Shares of MEC stock opened at $9.62 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.87 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average price of $11.98. Mayville Engineering Company, Inc. has a one year low of $7.70 and a one year high of $17.40.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.17. The firm had revenue of $128.51 million during the quarter, compared to analysts’ expectations of $140.10 million. Mayville Engineering had a negative net margin of 0.51% and a positive return on equity of 13.70%. As a group, equities research analysts predict that Mayville Engineering Company, Inc. will post 1.05 earnings per share for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Mayville Engineering from a “sell” rating to a “hold” rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $16.67.

Several institutional investors and hedge funds have recently modified their holdings of MEC. Bailard Inc. bought a new position in shares of Mayville Engineering in the third quarter worth approximately $148,000. Cubist Systematic Strategies LLC bought a new position in shares of Mayville Engineering in the second quarter worth approximately $288,000. Pentwater Capital Management LP bought a new position in shares of Mayville Engineering in the second quarter worth approximately $1,242,000. Morgan Stanley bought a new position in shares of Mayville Engineering in the second quarter worth approximately $834,000. Finally, Gratia Capital LLC bought a new position in shares of Mayville Engineering in the second quarter worth approximately $1,147,000. 28.02% of the stock is currently owned by institutional investors.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc operates as a contract manufacturer that serves the heavy and medium duty commercial vehicle, construction, powersports, agriculture, military, and other end markets in the United States. The company provides a range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components.

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