Globeflex Capital L P Sells 27,958 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Globeflex Capital L P trimmed its holdings in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 19.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 116,468 shares of the company's stock after selling 27,958 shares during the period. Globeflex Capital L P owned approximately 0.56% of Mayville Engineering worth $1,831,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Sheets Smith Wealth Management boosted its stake in shares of Mayville Engineering by 3.2% during the 4th quarter. Sheets Smith Wealth Management now owns 36,525 shares of the company's stock valued at $574,000 after buying an additional 1,130 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock worth $228,000 after acquiring an additional 1,417 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Mayville Engineering by 5.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,252 shares of the company's stock valued at $722,000 after purchasing an additional 1,760 shares during the last quarter. Ritholtz Wealth Management grew its stake in Mayville Engineering by 8.3% in the fourth quarter. Ritholtz Wealth Management now owns 25,305 shares of the company's stock valued at $398,000 after purchasing an additional 1,945 shares in the last quarter. Finally, AlphaQuest LLC acquired a new position in Mayville Engineering in the 4th quarter worth about $38,000. 45.44% of the stock is owned by hedge funds and other institutional investors.

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Mayville Engineering Stock Up 0.3 %

Shares of Mayville Engineering stock traded up $0.05 during midday trading on Wednesday, reaching $14.28. 205,925 shares of the company's stock traded hands, compared to its average volume of 107,066. The company has a market cap of $291.54 million, a price-to-earnings ratio of 24.20 and a beta of 0.92. Mayville Engineering Company, Inc. has a 52 week low of $12.75 and a 52 week high of $23.02. The company's 50 day simple moving average is $15.22 and its 200 day simple moving average is $17.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77.

Analyst Ratings Changes

Separately, Citigroup reduced their price target on Mayville Engineering from $22.00 to $18.00 and set a "buy" rating for the company in a 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.