Janney Montgomery Scott LLC Acquires Shares of 34,663 Mayville Engineering Company, Inc. (NYSE:MEC)

Janney Montgomery Scott LLC acquired a new position in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 34,663 shares of the company's stock, valued at approximately $545,000. Janney Montgomery Scott LLC owned about 0.17% of Mayville Engineering at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. US Bancorp DE acquired a new stake in Mayville Engineering in the 3rd quarter valued at about $60,000. Harvest Fund Management Co. Ltd acquired a new stake in Mayville Engineering in the 3rd quarter valued at about $62,000. Quantbot Technologies LP acquired a new stake in Mayville Engineering in the 3rd quarter valued at about $70,000. Point72 Asset Management L.P. acquired a new stake in Mayville Engineering in the 3rd quarter valued at about $95,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Mayville Engineering in the 2nd quarter valued at about $189,000. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Northland Securities cut shares of Mayville Engineering from an "outperform" rating to a "market perform" rating and lowered their price target for the company from $30.00 to $20.00 in a report on Thursday, November 7th. Northland Capmk cut shares of Mayville Engineering from a "strong-buy" rating to a "hold" rating in a report on Thursday, November 7th.

Mayville Engineering Stock Performance

Shares of MEC traded down $0.36 during mid-day trading on Wednesday, hitting $15.43. 46,134 shares of the company's stock were exchanged, compared to its average volume of 73,773. Mayville Engineering Company, Inc. has a 52 week low of $11.07 and a 52 week high of $23.02. The stock's 50-day simple moving average is $15.98 and its 200-day simple moving average is $17.98. The firm has a market cap of $318.52 million, a price-to-earnings ratio of 26.16 and a beta of 0.89. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47.

Mayville Engineering Profile

Mayville Engineering Company, Inc, together with its subsidiaries, engages in the production, design, prototyping and tooling, fabrication, aluminum extrusion, coating, and assembling of aftermarket components in the United States. It also supplies engineered components to original equipment manufacturers.