Jacobs Levy Equity Management Inc. Has $2.57 Million Stock Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Jacobs Levy Equity Management Inc. lifted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 91.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 122,055 shares of the company's stock after purchasing an additional 58,242 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.59% of Mayville Engineering worth $2,573,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MEC. First Eagle Investment Management LLC grew its holdings in Mayville Engineering by 404.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company's stock worth $4,178,000 after acquiring an additional 201,047 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Mayville Engineering by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company's stock worth $8,618,000 after purchasing an additional 77,486 shares during the period. Marshall Wace LLP bought a new stake in shares of Mayville Engineering in the second quarter worth $978,000. Harbor Capital Advisors Inc. raised its position in Mayville Engineering by 124.4% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 79,122 shares of the company's stock worth $1,668,000 after purchasing an additional 43,858 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Mayville Engineering by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company's stock worth $7,712,000 after buying an additional 39,460 shares during the period. Institutional investors and hedge funds own 45.44% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MEC shares. Northland Securities cut Mayville Engineering from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $30.00 to $20.00 in a research note 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.

Mayville Engineering Trading Up 1.9 %

MEC stock traded up $0.32 during midday trading on Friday, hitting $17.14. The stock had a trading volume of 106,420 shares, compared to its average volume of 140,155. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market cap of $353.77 million, a P/E ratio of 29.05 and a beta of 0.90. The business has a fifty day moving average price of $18.91 and a two-hundred day moving average price of $18.29. Mayville Engineering Company, Inc. has a 1-year low of $11.07 and a 1-year high of $23.02.

Mayville Engineering (NYSE:MEC - Get Free Report) last announced its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. The business had revenue of $135.39 million during the quarter, compared to analyst estimates of $157.22 million. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, sell-side analysts predict that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Jagadeesh A. Reddy bought 5,903 shares of Mayville Engineering stock in a transaction dated Thursday, November 7th. The stock was bought at an average cost of $16.72 per share, for a total transaction of $98,698.16. Following the purchase, the chief executive officer now directly owns 89,052 shares in the company, valued at approximately $1,488,949.44. This represents a 7.10 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.40% of the company's stock.

Mayville Engineering 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.