Mayville Engineering Company, Inc. (NYSE:MEC – Get Free Report) was the target of a large decline in short interest during the month of January. As of January 15th, there was short interest totalling 253,400 shares, a decline of 12.7% from the December 31st total of 290,200 shares. Based on an average daily volume of 128,600 shares, the short-interest ratio is currently 2.0 days. Currently, 1.6% of the shares of the company are short sold.
Insider Activity
In other Mayville Engineering news, CEO Jagadeesh A. Reddy bought 5,903 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were acquired at an average cost of $16.72 per share, with a total value of $98,698.16. Following the acquisition, the chief executive officer now directly owns 89,052 shares of the company’s stock, valued at $1,488,949.44. The trade was a 7.10 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.
Institutional Investors Weigh In On Mayville Engineering
Institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP lifted its holdings in shares of Mayville Engineering by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock valued at $8,618,000 after buying an additional 77,486 shares during the period. Renaissance Technologies LLC purchased a new stake in shares of Mayville Engineering during the 2nd quarter worth $372,000. Sei Investments Co. boosted its position in shares of Mayville Engineering by 16.4% during the 2nd quarter. Sei Investments Co. now owns 38,632 shares of the company’s stock worth $644,000 after purchasing an additional 5,444 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Mayville Engineering during the 2nd quarter worth $978,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Mayville Engineering in the 2nd quarter valued at about $189,000. Hedge funds and other institutional investors own 45.44% of the company’s stock.
Wall Street Analyst Weigh In
View Our Latest Stock Analysis on MEC
Mayville Engineering Price Performance
Shares of NYSE MEC opened at $15.83 on Friday. The stock has a fifty day moving average price of $16.13 and a 200 day moving average price of $18.14. Mayville Engineering has a 1-year low of $11.07 and a 1-year high of $23.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The company has a market cap of $326.73 million, a PE ratio of 26.83 and a beta of 0.91.
Mayville Engineering (NYSE:MEC – Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. The firm had revenue of $135.39 million during the quarter, compared to analyst estimates of $157.22 million. During the same quarter last year, the business posted $0.21 EPS. Sell-side analysts forecast that Mayville Engineering will post 0.31 EPS for the current year.
Mayville Engineering Company Profile
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.
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