Latest news with #MayvilleEngineering
Yahoo
5 days ago
- Business
- Yahoo
Mayville Executives Signal Optimism After Accu-Fab Deal and Credit Boost
Mayville Engineering Company, Inc. (NYSE:MEC) is one of the . The stock's price target was raised following announcements on the expansion of credit facilities and the acquisition of Accu-Fab. A close-up of a heavy-duty machining tool forming a steel component. The vertically integrated manufacturer, Mayville Engineering Company, Inc. (NYSE:MEC), offers concept-to-production services including design, prototyping, tooling, fabrication, coating, and assembly. Headquartered in Wisconsin, the company has a comprehensive portfolio serving heavy-duty trucks, agriculture, military, and powersports sectors. On June 26, 2025, Mayville Engineering Company, Inc. (NYSE:MEC) amended its credit agreement to raise its revolving credit facility to $350 million, utilizing a $100 million accordion feature. Earlier, it was at $250 million. With the terms of the credit agreement remaining largely unchanged, the company intends to use the proceeds to meet its current business needs. Particularly, the company utilized the existing credit agreement for funding the acquisition of Accu-Fab, LLC for $140.5 million. Through the acquisition, the company aims to strengthen its foothold in the critical power infrastructure, data center, and renewable energy markets. Following these developments, Citi reiterated its Buy rating on the stock and raised the price target from $17 to $21. Insider transactions, though low at 0.03% in the past six months, signal a positive view among the top executives and significant shareholders towards the company's progress. While we acknowledge the potential of MEC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and 12 Best MLP Dividend Stocks to Buy According to Analysts Disclosure. None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-06-2025
- Business
- Yahoo
DA Davidson Sees Over 50% Upside in Mayville Engineering Company, Inc. (MEC)
Mayville Engineering Company, Inc. (NYSE:MEC) is among the best small company stocks to invest in. On Tuesday, analysts at DA Davidson began coverage of Mayville Engineering Company, Inc. (NYSE:MEC) with a Buy rating and a price target of $23.00, reflecting a potential upside of over 50% from the current levels. This optimism is attributed to the company's strong footing in the fabricating truck and machinery components market. As the financial services firm highlighted, Mayville Engineering Company, Inc. (NYSE:MEC) has positioned itself as the 'clear leader in its industry.' From the latest acquisitions to the implementation of an updated business model, this small-cap company is clearly winning over investor confidence. A close-up of a heavy-duty machining tool forming a steel component. Just recently, Mayville Engineering Company, Inc. (NYSE:MEC) announced the acquisition of Accu-Fab from Tide Rock Holdings worth $140.5 million. While the transaction will be completed during the third quarter, Mayville Engineering has already begun to diversify its portfolio and enter high-growth end markets. Mayville Engineering Company, Inc. (NYSE:MEC) is a Wisconsin-based manufacturing partner providing a range of services, including designing, developing, and assembling. The company provides engineered components to original equipment manufacturers. Founded in 1945, the giant serves a diverse end market, mainly duty commercial vehicles, agriculture, power sports, and military. While we acknowledge the potential of MEC as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Powell, Mayville Engineering, Graham Corporation, Hyster-Yale Materials Handling, and 10x Genomics Shares Skyrocket, What You Need To Know
A number of stocks jumped in the morning session after the major indices rebounded (Nasdaq +2.0%, S&P 500 +1.5%) as President Trump postponed the planned 50% tariff on European Union imports, shifting the start date to July 9, 2025. Companies with substantial business ties to Europe likely had some relief as the delay reduced near-term cost pressures and preserved cross-border demand. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Electrical Systems company Powell (NASDAQ:POWL) jumped 5.1%. Is now the time to buy Powell? Access our full analysis report here, it's free. Engineered Components and Systems company Mayville Engineering (NYSE:MEC) jumped 5.8%. Is now the time to buy Mayville Engineering? Access our full analysis report here, it's free. Engineered Components and Systems company Graham Corporation (NYSE:GHM) jumped 7.3%. Is now the time to buy Graham Corporation? Access our full analysis report here, it's free. Professional Tools and Equipment company Hyster-Yale Materials Handling (NYSE:HY) jumped 6.1%. Is now the time to buy Hyster-Yale Materials Handling? Access our full analysis report here, it's free. Genomics & Sequencing company 10x Genomics (NASDAQ:TXG) jumped 5.6%. Is now the time to buy 10x Genomics? Access our full analysis report here, it's free. Graham Corporation's shares are very volatile and have had 23 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The biggest move we wrote about over the last year was 4 months ago when the stock dropped 22.2% on the news that the company reported underwhelming fourth quarter 2024 results: its revenue missed and its full-year revenue guidance fell slightly short of Wall Street's estimates. Orders fell significantly, reflecting the lumpiness of large capital projects, particularly in defense, which could impact near-term revenue growth. Backlog, another leading growth indicator, declined sequentially and relative to the previous year, suggesting the near-term sales momentum might be weaker. Despite these challenges, Graham Corporation beat analysts' EBITDA and EPS expectations this quarter, partially offsetting the otherwise underwhelming results. Graham Corporation is down 9.7% since the beginning of the year, and at $39.85 per share, it is trading 19.9% below its 52-week high of $49.72 from February 2025. Investors who bought $1,000 worth of Graham Corporation's shares 5 years ago would now be looking at an investment worth $3,400. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
17-05-2025
- Climate
- Yahoo
‘Overwhelming looking at the mess': Mayville community working through aftermath of tornado
MAYVILLE, Wis. (WFRV) – With even more high winds and rain following Thursday evening's tornado, Mayville community members are working around the clock to get things back into place, or working order, as best they can. 'It's overwhelming looking at the mess,' Mayville Engineering Company employee Brad Lagerman said, who has worked on the maintenance team for 35 years. 'It's a lot, we have a full crew in here and they were really good at getting the crew needed here to get all of this work done.' An entire wall of the engineering company is gone, just a pile of rubble remains. A giant air conditioning unit also was stripped from the roof, tearing a large hole, before being smashed into the ground. Crews worked on the roof and the side of the building throughout Friday, working to get some patching in place and also to quickly restore power. Power had been restored to Mayville earlier on Friday, but individual homes or businesses that had their lines snapped may still be waiting. How long will it take MEC to return to normal? And when you lose an entire wall, what does 'normal' even look like? 'I'm not sure. Hoping maybe we can run on Monday,' Lagerman said, although the repairs will take weeks to complete. Employees are hopeful to begin distributing product again as soon as possible. And just across Clark St., the Gleason Reel building might even be worse off, with an entire corner, wall and roof, demolished. Heavy cinder blocks fell and cracked onto parked cars below, leaving them warped with dents and smashed windshields. The City of Mayville administration is asking those interested in volunteering during the cleanup to contact city hall in order to be added to a volunteer list. Mayville High School did not have class, and is instead being used by the Red Cross to provide shelter and relief efforts. Students from neighboring Lomira High School did have class, but some left early to help with the cleanup. 'I was in school but I couldn't just sit around,' Keagen Fleischer said. 'It's just not the kind of person I am.' 'I'm here cleaning up, because when I'm older and have something like this happen I'd love to have some kids out here helping,' Logan Keacker said. Utility crews, company employees, students and neighbors, all pooling their best effort. At least by the end of the day, the sun that had been obscured by rain clouds for much of the day was able to shine through before setting, perhaps a small signal of the better days ahead with everyone working together. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Business Insider
17-05-2025
- Business
- Business Insider
Mayville Engineering says ‘limited damage' to Wisconsin facility from tornado
Mayville Engineering (MEC) announced that one of its manufacturing facilities in Mayville, Wisconsin sustained limited damage from a tornado on Thursday, May 15. All onsite employees are safe and no injuries were reported. The company expects a minimal impact to its business and anticipates the facility will resume normal operations by early next week. Confident Investing Starts Here: Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
