Mayville Engineering Company, Inc. (MEC)

In the past six months, MEC announced its Q4 2025 and full-year 2025 results, reporting revenue growth but a decline in profitability due to acquisition costs and end-market headwinds, leading to a stock pullback despite robust 2026 guidance. The company reported Q1 2026 net sales increase but swung to a net loss due to restructuring charges and increased expenses, though the stock reached a new 52-week high. Analyst activity included downgrades and upgrades from Weiss Ratings and Zacks Research, while DA Davidson and Citigroup lifted their target prices. The stock reached a new 52-week high, and insider Sean P. Leuba sold a significant portion of his shares.

Demand seasonality for MEC varies across its end markets. Legacy markets like Commercial Vehicle and Construction & Access can be seasonally softer, particularly in the fourth quarter. Conversely, the data center and critical power end market has shown robust and sustained demand momentum, expected to be a consistent growth opportunity, potentially representing over 20% of its revenues in 2026.

Mayville Engineering Co., Inc. (MEC) operates in the Industrials sector and Metal Fabrication industry, providing manufacturing solutions from concept to production. Founded in 1945, MEC offers prototyping, tooling, production fabrication, aluminum extrusion, coating, assembly, and aftermarket components. It is recognized as the largest metal fabricator in the U.S. for 15 consecutive years. MEC's products and services cater to heavy- and medium-duty commercial vehicles, construction and access equipment, powersports, agriculture, military, data center, and critical power markets, offering services like stamping, shearing, welding, and logistics. Additionally, it manufactures shotshell reloaders and clay target machines through its MEC Outdoors brand.

Headquartered in Mayville, Wisconsin, with corporate headquarters in Milwaukee, Wisconsin, MEC operates 20 manufacturing facilities across the United States, totaling over 3.1 million square feet. These facilities are strategically located near its customers in states including Arkansas, Illinois, Michigan, Mississippi, North Carolina, Ohio, Pennsylvania, Virginia, and Wisconsin.

Mayville Engineering Co., Inc.'s brand reputation is characterized by its strong standing in the manufacturing industry, consistently ranked as the largest fabricator in the U.S. for 15 years. Its reputation is built on commitment to excellence, strategic collaboration, and deep engineering expertise, implementing the MEC Business Excellence (MBX) framework for continuous improvement. It is important to distinguish MEC from Mountain Equipment Company, a Canadian outdoor retailer.

Mayville Engineering Co., Inc. has a mixed ownership structure, with approximately 34.71% held by institutional investors, 3.39% by insiders, and 61.90% by public companies and individual investors; it is also close to 50% employee-owned. Major institutional owners include Allspring Global Investments Holdings, LLC, Dimensional Fund Advisors LP, and BlackRock, Inc. The largest individual shareholder is Robert D. Kamphuis, owning 2.83% of the company.