Connor Clark & Lunn Investment Management Ltd. lowered its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 46.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,002 shares of the company's stock after selling 19,128 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.11% of Mayville Engineering worth $346,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MEC. AlphaQuest LLC acquired a new stake in shares of Mayville Engineering during the 4th quarter worth about $38,000. R Squared Ltd acquired a new stake in Mayville Engineering during the fourth quarter worth approximately $40,000. Harvest Fund Management Co. Ltd purchased a new stake in Mayville Engineering in the 3rd quarter worth approximately $62,000. Quantbot Technologies LP acquired a new position in Mayville Engineering in the 3rd quarter valued at $70,000. Finally, Point72 Asset Management L.P. purchased a new position in shares of Mayville Engineering during the 3rd quarter worth $95,000. Hedge funds and other institutional investors own 45.44% of the company's stock.
Mayville Engineering Trading Up 0.1 %
MEC stock traded up $0.02 on Thursday, hitting $14.01. 89,172 shares of the company were exchanged, compared to its average volume of 95,856. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The stock has a market capitalization of $286.08 million, a price-to-earnings ratio of 23.75 and a beta of 0.92. Mayville Engineering Company, Inc. has a twelve month low of $12.75 and a twelve month high of $23.02. The business's fifty day moving average is $15.11 and its two-hundred day moving average is $17.07.
Analyst Ratings Changes
Separately, Citigroup dropped their target price on Mayville Engineering from $22.00 to $18.00 and set a "buy" rating for the company in a research note on Thursday, March 6th.
Check Out Our Latest Report on Mayville Engineering
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.
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