First Eagle Investment Management LLC lifted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 10.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 332,375 shares of the company's stock after acquiring an additional 32,500 shares during the quarter. First Eagle Investment Management LLC owned 1.61% of Mayville Engineering worth $5,225,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of MEC. Jacobs Levy Equity Management Inc. lifted its stake in Mayville Engineering by 91.3% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 122,055 shares of the company's stock valued at $2,573,000 after buying an additional 58,242 shares in the last quarter. Martingale Asset Management L P purchased a new position in Mayville Engineering in the 3rd quarter valued at about $766,000. Janney Montgomery Scott LLC purchased a new position in Mayville Engineering in the 4th quarter valued at about $545,000. BNP Paribas Financial Markets lifted its stake in Mayville Engineering by 1,061.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company's stock valued at $626,000 after buying an additional 27,132 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Mayville Engineering in the 4th quarter valued at about $269,000. 45.44% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, Citigroup decreased their price target on shares of Mayville Engineering from $22.00 to $18.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th.
Read Our Latest Stock Analysis on Mayville Engineering
Mayville Engineering Price Performance
MEC stock traded up $0.00 during mid-day trading on Thursday, reaching $14.34. The company's stock had a trading volume of 79,385 shares, compared to its average volume of 107,169. The stock has a market cap of $292.84 million, a PE ratio of 24.31 and a beta of 0.92. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Mayville Engineering Company, Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $23.02. The company's 50 day moving average is $15.21 and its two-hundred day moving average is $17.24.
Mayville Engineering Company Profile
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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.
Further Reading

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