Allspring Global Investments Holdings LLC cut its stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,439,596 shares of the company's stock after selling 35,275 shares during the quarter. Allspring Global Investments Holdings LLC owned about 11.82% of Mayville Engineering worth $37,911,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd bought a new position in Mayville Engineering in the 4th quarter worth $40,000. US Bancorp DE bought a new position in Mayville Engineering in the 3rd quarter worth $60,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of Mayville Engineering in the 3rd quarter worth about $62,000. Quantbot Technologies LP purchased a new stake in shares of Mayville Engineering in the 3rd quarter worth about $70,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Mayville Engineering in the 3rd quarter worth about $95,000. 45.44% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
MEC has been the topic of a number of recent research reports. Northland Securities downgraded shares of Mayville Engineering from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $30.00 to $20.00 in a research report on Thursday, November 7th. Northland Capmk downgraded shares of Mayville Engineering from a "strong-buy" rating to a "hold" rating in a research report on Thursday, November 7th.
Read Our Latest Stock Report on Mayville Engineering
Mayville Engineering Stock Up 0.5 %
MEC stock traded up $0.08 during trading on Tuesday, hitting $15.59. 9,332 shares of the stock traded hands, compared to its average volume of 71,269. Mayville Engineering Company, Inc. has a 1 year low of $11.07 and a 1 year high of $23.02. The firm's 50 day moving average is $15.85 and its two-hundred day moving average is $17.88. The stock has a market cap of $321.78 million, a price-to-earnings ratio of 26.42 and a beta of 0.89. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91.
Mayville Engineering Company Profile
(
Free Report)
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.
Recommended Stories
Before you consider Mayville Engineering, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Mayville Engineering wasn't on the list.
While Mayville Engineering currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
