MAYVILLE ENGR C/SH’s Quiet Period Set To End on June 18th (NYSE:MEC)

MAYVILLE ENGR C/SH’s (NYSE:MEC) quiet period will expire on Tuesday, June 18th. MAYVILLE ENGR C/SH had issued 6,250,000 shares in its public offering on May 9th. The total size of the offering was $106,250,000 based on an initial share price of $17.00. During MAYVILLE ENGR C/SH’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

A number of analysts recently weighed in on MEC shares. UBS Group started coverage on shares of MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a “neutral” rating and a $17.00 price target for the company. Citigroup started coverage on shares of MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a “buy” rating for the company. Robert W. Baird started coverage on shares of MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set an “outperform” rating and a $19.00 price target for the company. Jefferies Financial Group started coverage on shares of MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set a “buy” rating for the company. Finally, William Blair started coverage on shares of MAYVILLE ENGR C/SH in a research report on Monday, June 3rd. They set an “outperform” rating for the company. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $18.00.

Shares of MAYVILLE ENGR C/SH stock opened at $15.03 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.36 and a quick ratio of 0.71. MAYVILLE ENGR C/SH has a twelve month low of $11.95 and a twelve month high of $17.40.

In other news, Director Timothy L. Christen acquired 5,000 shares of the business’s stock in a transaction on Monday, May 13th. The shares were purchased at an average price of $17.00 per share, for a total transaction of $85,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Todd M. Butz acquired 5,474 shares of the business’s stock in a transaction on Wednesday, June 12th. The stock was purchased at an average price of $13.10 per share, for a total transaction of $71,709.40. The disclosure for this purchase can be found here. Insiders acquired a total of 54,434 shares of company stock worth $730,549 in the last quarter.

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MAYVILLE ENGR C/SH Company Profile

There is no company description available for Mayville Engineering Company Inc

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