Arrowstreet Capital Limited Partnership Grows Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Arrowstreet Capital Limited Partnership lifted its holdings in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 47.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 252,396 shares of the company's stock after purchasing an additional 80,905 shares during the period. Arrowstreet Capital Limited Partnership owned about 1.22% of Mayville Engineering worth $3,968,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in MEC. Principal Financial Group Inc. lifted its position in Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock valued at $228,000 after purchasing an additional 1,417 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Mayville Engineering by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 277,679 shares of the company's stock valued at $5,855,000 after buying an additional 14,118 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Mayville Engineering by 1,061.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company's stock valued at $626,000 after acquiring an additional 27,132 shares during the period. Sei Investments Co. grew its stake in shares of Mayville Engineering by 5.1% during the 4th quarter. Sei Investments Co. now owns 48,570 shares of the company's stock valued at $764,000 after acquiring an additional 2,353 shares during the period. Finally, Barclays PLC increased its holdings in Mayville Engineering by 44.2% in the 3rd quarter. Barclays PLC now owns 37,486 shares of the company's stock worth $790,000 after acquiring an additional 11,489 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.

Mayville Engineering Price Performance

NYSE:MEC traded up $0.08 on Monday, reaching $12.81. 1,691 shares of the company's stock traded hands, compared to its average volume of 109,349. The stock has a 50-day simple moving average of $14.30 and a 200-day simple moving average of $16.44. Mayville Engineering Company, Inc. has a 12 month low of $12.01 and a 12 month high of $23.02. The firm has a market cap of $261.48 million, a PE ratio of 21.69 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.

Wall Street Analysts Forecast Growth

Separately, Citigroup dropped their price target on shares of Mayville Engineering from $22.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, March 6th.

Mayville Engineering Company 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.