Morphic Ethical Equities Fund Limited (MEC)
CXA 
Summary
Mayville Engineering's Surge Has Been Well Justified
Mayville Engineering Company remains a strong buy, with shares up 14.3% since August, outperforming the S&P 500. Despite near-term challenges and a weaker 2025 outlook, MEC's revenue growth is driven by the Accu-Fab acquisition and expanding data center operations. MEC trades at single-digit multiples, significantly undervalued compared to peers, offering substantial upside potential even with stagnant growth.
Mayville Engineering (MEC) Tops Q3 Earnings and Revenue Estimates
Mayville Engineering (MEC) came out with quarterly earnings of $0.1 per share, beating the Zacks Consensus Estimate of $0.05 per share. This compares to earnings of $0.14 per share a year ago.
Mayville Engineering Company: A Strong Prospect Even In Light Of Recent Pain
Despite recent revenue and profit declines, Mayville Engineering remains deeply undervalued compared to peers, supporting my continued "Strong Buy" rating. Management's major acquisition of Accu-Fab brings high-margin EBITDA, offsetting some of the legacy business's current weakness and boosting long-term prospects. Short-term headwinds include soft end-market demand, high interest rates, and geopolitical factors, but these are likely to reverse by mid-next year.
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Morphic Ethical Equities Fund Limited Profile
| Metals & Mining Industry | Materials Sector | Jagadeesh A. Reddy CEO | CXA Exchange | US5786051079 ISIN |
| US Country | 2,200 Employees | - Last Dividend | 26 Mar 2004 Last Split | 9 May 2019 IPO Date |
Overview
Mayville Engineering Company, Inc., established in 1945 and based in Milwaukee, Wisconsin, operates across the United States with a focus on manufacturing and engineering services. The company, through its numerous subsidiaries, is deeply involved in the design, prototyping, tooling, fabrication, aluminum extrusion, coating, and assembly of aftermarket components. It caters to a diverse clientele, including original equipment manufacturers (OEMs), by supplying engineered components that find applications in a wide array of industries. These industries range from heavy and medium-duty commercial vehicles to construction and access equipment, as well as markets such as powersports, agriculture, military, and more.
Products and Services
- Production - Mayville Engineering Company, Inc. specializes in the production of high-quality, precision-engineered components. This service is central to its operations, focusing on creating durable and reliable products that meet the unique specifications of each client.
- Design, Prototyping, and Tooling - The company offers comprehensive design and development services, including prototyping and tooling. These services are aimed at transforming conceptual ideas into tangible products through efficient and innovative methods, ensuring that the components are designed for manufacturability and functionality.
- Fabrication - Mayville Engineering is adept in the fabrication of metal components, employing state-of-the-art techniques to bend, cut, and assemble parts as per the requirements. Their fabrication service is flexible enough to handle high-volume production as well as small, customized projects.
- Aluminum Extrusion - They provide aluminum extrusion services, a process critical for creating components with complex cross-sections. This capability allows for the manufacturing of lightweight, strong, and durable aluminum parts used across various industries.
- Coating - Offering coating services, Mayville Engineering ensures that the components not only have an improved aesthetic appeal but are also protected against corrosion, wear and tear, extending the durability and life span of the products.
- Assembling - The company takes pride in its assembling service where it combines various parts into a complete unit, ready for installation or direct use. This service streamlines the manufacturing process for clients, providing them with ready-to-use components.
- Supply of Engineered Components to OEMs - A significant part of Mayville Engineering's operations involves the supply of engineered components to original equipment manufacturers. These components are integral to the assembly of OEM products, ensuring efficiency and reliability in the end products delivered to consumers across heavy and medium-duty commercial vehicles, construction and access equipment, powersports, agriculture, military, and other markets.
Contact Information
