Mayville Engineering (NYSE:MEC) Issues Quarterly Earnings Results, Misses Estimates By $0.18 EPS

Mayville Engineering (NYSE:MEC) issued its quarterly earnings data on Tuesday. The company reported ($0.13) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.18), Zacks reports. Mayville Engineering had a return on equity of 8.21% and a net margin of 3.41%. Mayville Engineering updated its FY 2025 guidance to EPS.

Mayville Engineering Trading Up 2.4%

Shares of MEC stock traded up $0.42 on Tuesday, reaching $18.08. The company had a trading volume of 318,058 shares, compared to its average volume of 240,620. The company has a current ratio of 1.63, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. The stock has a market cap of $367.30 million, a PE ratio of 18.21 and a beta of 1.21. The company has a 50-day moving average of $14.57 and a 200-day moving average of $14.92. Mayville Engineering has a 12 month low of $11.72 and a 12 month high of $21.83.

Insiders Place Their Bets

In other news, CEO Jagadeesh A. Reddy acquired 7,500 shares of Mayville Engineering stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $14.06 per share, with a total value of $105,450.00. Following the purchase, the chief executive officer directly owned 146,285 shares of the company’s stock, valued at $2,056,767.10. The trade was a 5.40% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders have purchased 9,400 shares of company stock worth $131,942. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mayville Engineering

Several hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Mayville Engineering by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 318,321 shares of the company’s stock valued at $5,081,000 after buying an additional 27,552 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in Mayville Engineering by 0.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 268,635 shares of the company’s stock worth $4,287,000 after acquiring an additional 2,235 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Mayville Engineering by 4.6% in the second quarter. Bridgeway Capital Management LLC now owns 222,654 shares of the company’s stock valued at $3,554,000 after acquiring an additional 9,779 shares during the period. Empowered Funds LLC increased its holdings in shares of Mayville Engineering by 7.3% in the first quarter. Empowered Funds LLC now owns 98,207 shares of the company’s stock worth $1,319,000 after acquiring an additional 6,694 shares in the last quarter. Finally, Sei Investments Co. raised its position in shares of Mayville Engineering by 5.2% during the second quarter. Sei Investments Co. now owns 51,490 shares of the company’s stock worth $822,000 after purchasing an additional 2,553 shares during the period. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on MEC. Citigroup reissued a “buy” rating and set a $21.00 price target (up from $17.00) on shares of Mayville Engineering in a research note on Monday, July 14th. Craig Hallum set a $24.00 price objective on Mayville Engineering and gave the company a “buy” rating in a research report on Tuesday, October 21st. Northland Capmk upgraded Mayville Engineering from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a report on Wednesday, October 8th. Finally, Northland Securities upgraded Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $21.50.

About Mayville Engineering

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.