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MEC Price Correlated With Financials For Mayville Engineering Company

Free historical financial statements for Mayville Engineering Company Inc. See how revenue, income, cash flow, and balance sheet financials have changed over 15 quarters since 2019. Compare with MEC stock chart to see long term trends.

MEC Stock Compared to Quarterly

MEC Income Statement

Revenue, Net:136276000
Revenue Per Share:6.6834
Cost of Goods & Services Sold:120812000
Operating Income:8916000
Income Taxes:1490000
Net Income:6596000
Earnings Per Share, Basic:0.32
Shares Outstanding, Basic Avg:20390221

MEC Cash Flow

Operating Activities Net Income:
Change in Accounts Receiveable:-4012000
Net Cash from Operations:17631000
Net Cash from Operations Per Share:0.8647
Repurchases/Buybacks Common Stock:2624000
Net Cash from Financing Activities:-7675000
Property, Plant & Equipment Purchases:12457000
Net Cash from Investing Activities:-9949000
Net Change in Cash & Equivalents:7000

MEC Balance Sheet

Cash and Cash Equivalents:112000
Inventories:74921000
Total Current Assets:153100000
Property, Plant & Equipment, Net:137210000
Total Assets:446720000
Accounts Payable:60097000
Total Short-Term Liabilities:111002000
Total Liabilities:232138000

Insider Trading

 
Change
Value
Transaction
SEC Form 4
Reddy Jagadeesh A   President & CEO
27,071 sh at $9
$247,048
Buy
Reddy Jagadeesh A   President & CEO
27,071 sh at $9
$247,048
Buy

Major Holders (from 13F filings)

Investment Type
Change
Value (x$1000)
increase or decrease
Allspring Global Investments Holdings, LLC
2,453,031 sh
-5,845 sh
0%
$15,968
-$3,063
Tocqueville Asset Management L.P.
677,521 sh
16,750 sh
3%
$4,411
-$703
Vanguard Group Inc
379,484 sh
19,448 sh
5%
$2,470
-$317
Blackrock Inc.
238,825 sh
15,426 sh
7%
$1,554
-$176
Mill Road Capital Management LLC
229,582 sh
 
$1,495
Dimensional Fund Advisors LP
221,860 sh
17,365 sh
8%
$1,445
-$138
Millennium Management LLC
193,588 sh
-33,253 sh
-15%
$1,260
-$496
Advisor Group Holdings, Inc.
178,202 sh
-4,312 sh
-2%
$1,160
-$252
UBS Group Ag
162,204 sh
1,685 sh
1%
$1,056
-$186
Bank Of America Corp /De/
161,307 sh
15,733 sh
11%
$1,049
-$77
Kennedy Capital Management, Inc.
150,785 sh
5,116 sh
4%
$982
-$145
Bridgeway Capital Management Inc
97,178 sh
10,000 sh
11%
$633
-$42
Sontag Advisory, LLC
95,615 sh
 
$622
Geode Capital Management, LLC
78,151 sh
 
$508
Citadel Advisors LLC
74,889 sh
-26,381 sh
-26%
$487
-$297
Renaissance Technologies LLC
67,397 sh
55,297 sh
457%
$439
$326
Lpl Financial LLC
67,215 sh
 
$438
State Of Wisconsin Investment Board
58,679 sh
-10,818 sh
-16%
$382
-$156
Two Sigma Advisers, Lp
54,000 sh
54,000 sh
NEW
$352
$352
Perritt Capital Management Inc
45,000 sh
10,000 sh
29%
$293
$22
COMPANY PROFILE
Note 1. Nature of business and summary of significant accounting policies
Mayville Engineering Company, Inc. and subsidiaries (MEC, the Company, we, our, us or similar terms) is a leading U.S.-based value-added manufacturing partner that provides a broad range of prototyping and tooling, production fabrication, coating, assembly and aftermarket components. Our customers operate in diverse end markets, including heavy- and medium-duty commercial vehicle, construction & access equipment, powersports, agriculture, military and other end markets. Founded in 1945 and headquartered in Mayville, Wisconsin, we are a leading Tier I U.S. supplier of highly engineered components to original equipment manufacturers (OEM) customers with leading positions in their respective markets. The Company operates 20 facilities, of which 19 are in operation, located in Arkansas, Michigan, Mississippi, Ohio, Pennsylvania, Virginia, and Wisconsin. Our engineering expertise and technical know-how allow us to add value through every product redevelopment cycle (generally every three to five years for our customers).
In December 1985, the Company formed the Mayville Engineering Company, Inc. Employee Stock Ownership Plan (ESOP). The ESOP is a tax qualified retirement plan and is designed to invest primarily in the Company’s common stock which is held in a Trust. From January 2003 until the Company’s IPO in May 2019, the ESOP owned 100% of the Company’s outstanding shares of common stock which have been fully allocated to active or retired eligible employees. In connection with the IPO, the Company initially sold 6,250,000 shares of common stock into the public market, reducing ESOP ownership to approximately 67%. As of December 31, 2021, 48.0% of all outstanding shares were held by the ESOP or within the Company’s 401(k) plan.
Basis of presentation and consolidation
The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP). They include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates
The preparation of consolidated financial statements in conformity with GAAP requires management to make certain estimates and assumptions that affect the reported amounts and disclosures. Accordingly, actual results could differ from those estimates.
Cash and cash equivalents
The Company considers all highly-liquid investments purchased with original maturities of 90 days or less to be cash and cash equivalents.
Concentration of credit risk
Financial instruments that potentially subject the Company to credit risk consist principally of bank balances above the Federal Deposit Insurance Corporation (FDIC) insurability limits of $250 per official custodian. The Company has not experienced any losses on these accounts and management believes the Company is not exposed to any significant credit risk on cash.
Accounts receivable
Accounts receivable are generally uncollateralized customer obligations due under normal trade terms requiring payment within 30 to 60 days from the invoice date. Management periodically reviews past due balances and established an allowance for doubtful accounts of approximately $631 and $1,298 as of December 31, 2021 and 2020, respectively, for probable uncollectible amounts based on its assessment of the current status of individual accounts. The estimated valuation allowance results in a charge to cost of sales and the accounts are written-off through a charge to the valuation allowance and a credit to accounts receivable after the Company has used all reasonable collection efforts.
Inventories
Inventories are stated at the lower of cost, determined on the first-in, first-out method (FIFO), and net realizable value. Net realizable value is the estimated selling price in the ordinary course of business, less reasonably predictable c

Data imported from Mayville Engineering Company Inc SEC filings. Check original filings before making any investment decision.