Mayville Engineering Company Inc. (MEC) Looks Ready for Growth Despite -23.56% Change This Year

Mayville Engineering Company Inc. (NYSE: MEC) is -23.56% lower on its value in year-to-date trading and has touched a low of $3.89 and a high of $15.94 in the current 52-week trading range. The MEC stock was last observed hovering at around $7.47 in the last trading session, with the day’s loss setting it -0.3% off its average median price target of $9.50 for the next 12 months. It is also 40.25% off the consensus price target high of $12.00 offered by 5 analysts, but current levels are -2.43% lower than the price target low of $7.00 for the same period.

Currently trading at $7.17, the stock is 2.19% and 17.87% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 0.21 million and changing -4.02% at the moment leaves the stock -14.45% off its SMA200. MEC registered -50.92% loss for a year compared to 6-month loss of -23.32%. The firm has a 50-day simple moving average (SMA 50) of $6.47 and a 200-day simple moving average (SMA200) of $7.07.

The stock witnessed a 13.27% gain in the last 1 month and extending the period to 3 months gives it a 19.70%, and is -2.71% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.51% over the week and 8.34% over the month.

Mayville Engineering Company Inc. (MEC) has around 2600 employees, a market worth around $138.95M and $484.60M in sales. Fwd P/E is 30.00. Profit margin for the company is -1.50%. Distance from 52-week low is 84.32% and -55.02% from its 52-week high. The company has generated returns on investments over the last 12 months (0.70%).

Mayville Engineering Company Inc. (MEC) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Mayville Engineering Company Inc. (MEC) is a “Overweight”. 5 analysts offering their recommendations for the stock have an average rating of 1.40, where 1 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Mayville Engineering Company Inc. is expected to release its quarterly report on 08/11/2020 and quarterly earnings per share for the current quarter are estimated at -$0.23 with sales reaching $76.5M over the same period.The EPS is expected to shrink by -129.90% this year, but quarterly earnings will post -27.50% year-over-year. Quarterly sales are estimated to shrink -47.20% in year-over-year returns.

Mayville Engineering Company Inc. (MEC) Top Institutional Holders

79 institutions hold shares in Mayville Engineering Company Inc. (MEC), with 264.89k shares held by insiders accounting for 1.34% while institutional investors hold 100.26% of the company’s shares. The shares outstanding are 19.53M, and float is at 19.30M with Short Float at 0.27%. Institutions hold 98.91% of the Float.

The top institutional shareholder in the company is Wells Fargo & Company with over 1.31 million shares valued at $8.03 million. The investor’s holdings represent 6.60% of the MEC Shares outstanding. As of Mar 30, 2020, the second largest holder is Jennison Associates LLC with 0.77 million shares valued at $4.74 million to account for 3.90% of the shares outstanding. The other top investors are Invesco Ltd. which holds 0.52 million shares representing 2.61% and valued at over $3.17 million, while Wellington Management Company, LLP holds 2.38% of the shares totaling 0.47 million with a market value of $2.89 million.

Mayville Engineering Company Inc. (MEC) Insider Activity

A total of 26 insider transactions have happened at Mayville Engineering Company Inc. (MEC) in the last six months, with sales accounting for 2 and purchases happening 24 times. The most recent transaction is an insider purchase by St. Peter John A, the company’s Director. SEC filings show that St. Peter John A bought 2,000 shares of the company’s common stock on Mar 13 at a price of $5.28 per share for a total of $10551.0. Following the purchase, the insider now owns 2500.0 shares.

Mayville Engineering Company Inc. disclosed in a document filed with the SEC on Mar 12 that Kamphuis Robert D (Chairman, Pres. & CEO) bought a total of 30,000 shares of the company’s common stock. The trade occurred on Mar 12 and was made at $5.50 per share for $0.17 million. Following the transaction, the insider now directly holds 100000.0 shares of the MEC stock.

Still, SEC filings show that on Mar 12, Butz Todd M (Chief Financial Officer) acquired 5,000 shares at an average price of $4.23 for $21131.0. The insider now directly holds 20,474 shares of Mayville Engineering Company Inc. (MEC).