136,746 Shares in Mayville Engineering Company, Inc. $MEC Acquired by Pillsbury Lake Capital LLC

Pillsbury Lake Capital LLC bought a new position in Mayville Engineering Company, Inc. (NYSE:MEC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 136,746 shares of the company’s stock, valued at approximately $5,122,505,000. Pillsbury Lake Capital LLC owned 0.54% of Mayville Engineering as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of MEC. Raymond James Financial Inc. boosted its holdings in shares of Mayville Engineering by 3.0% during the third quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after purchasing an additional 740 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Mayville Engineering by 20.7% in the second quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after purchasing an additional 1,359 shares during the last quarter. Clearstead Advisors LLC lifted its position in Mayville Engineering by 194.9% during the fourth quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock worth $39,000 after buying an additional 1,384 shares during the period. Legal & General Group Plc acquired a new stake in Mayville Engineering in the 2nd quarter worth about $53,000. Finally, BNP Paribas Financial Markets boosted its stake in Mayville Engineering by 109.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after buying an additional 1,435 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Mayville Engineering Stock Performance

Shares of NYSE:MEC opened at $20.63 on Thursday. The business has a 50-day moving average of $29.22 and a two-hundred day moving average of $25.17. The firm has a market capitalization of $526.07 million, a PE ratio of -24.56 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.96. Mayville Engineering Company, Inc. has a 12 month low of $12.25 and a 12 month high of $38.76.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.05) by $0.12. Mayville Engineering had a negative return on equity of 6.63% and a negative net margin of 2.95%.The business had revenue of $162.98 million for the quarter, compared to analyst estimates of $150.59 million. As a group, research analysts forecast that Mayville Engineering Company, Inc. will post -0.22 earnings per share for the current year.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, CEO Jagadeesh A. Reddy sold 17,942 shares of Mayville Engineering stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $30.00, for a total transaction of $538,260.00. Following the transaction, the chief executive officer directly owned 140,445 shares of the company’s stock, valued at $4,213,350. The trade was a 11.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Sean P. Leuba sold 12,855 shares of the business’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $25.44, for a total transaction of $327,031.20. Following the sale, the senior vice president owned 6,633 shares of the company’s stock, valued at approximately $168,743.52. This represents a 65.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,785 shares of company stock worth $1,460,669 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. DA Davidson increased their price objective on shares of Mayville Engineering from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. Citigroup boosted their target price on shares of Mayville Engineering from $33.00 to $43.00 and gave the company a “buy” rating in a report on Monday, July 13th. Northland Securities set a $40.00 price target on shares of Mayville Engineering in a research report on Thursday, August 6th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Mayville Engineering in a research note on Friday, July 10th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.75.

Mayville Engineering Profile

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.