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In a recent transaction reported to the Securities and Exchange Commission, Sean P. Leuba, Senior Vice President of Corporate Development and General Counsel at Mayville Engineering Company, Inc. (NYSE:MEC), acquired 1,000 shares of the company’s common stock. The timing is notable as the stock has declined over 22% in the past six months, according to InvestingPro data. The shares were purchased at a price of $14.179 each, amounting to a total transaction value of $14,179. Following this purchase, Leuba holds a total of 2,000 shares through an Employee Stock Ownership Plan (ESOP) and/or 401(k) Plan. Additionally, Leuba maintains direct ownership of 14,492 shares of common stock. The $290.57M market cap company trades at a P/E of 11.5x and shows strong free cash flow yield. InvestingPro analysis suggests the stock is currently undervalued, with 7 additional key insights available to subscribers.
In other recent news, Mayville Engineering Company (MEC) reported its fourth-quarter 2024 financial results, revealing a slight beat in earnings per share (EPS) expectations with an EPS of -$0.07, compared to the forecasted -$0.08. However, the company faced challenges as revenue fell short of expectations, coming in at $121.3 million against a forecast of $124.27 million, marking an 18.4% year-over-year decline. Despite the revenue miss, Mayville Engineering’s efforts in cost management and efficiency improvements were evident, as the company generated a free cash flow of $35.6 million, up from $19.9 million the previous year. The company has set its net sales guidance for 2025 between $560 million and $590 million, with adjusted EBITDA expected to range from $60 million to $66 million.
The company continues to focus on strategic initiatives, including mergers and acquisitions, targeting acquisitions with revenues between $50 million and $150 million. Analysts from firms like William Blair and Northland Capital Markets highlighted the company’s proactive approach in navigating market challenges and exploring growth opportunities. Mayville Engineering’s management remains optimistic about a demand recovery in the latter half of 2025, driven by strategic initiatives and ongoing market share gains. The company’s leadership, including CEO Jack Reddy and CFO Todd Butts, emphasized their commitment to operational efficiency and strategic growth during the earnings call.
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