Royce & Associates LP raised its stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 584,297 shares of the company's stock after buying an additional 23,749 shares during the quarter. Royce & Associates LP owned 2.83% of Mayville Engineering worth $9,185,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in MEC. First Eagle Investment Management LLC raised its holdings in Mayville Engineering by 10.8% in the 4th quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company's stock valued at $5,225,000 after acquiring an additional 32,500 shares in the last quarter. AlphaQuest LLC bought a new stake in shares of Mayville Engineering during the fourth quarter worth $38,000. Raymond James Financial Inc. acquired a new stake in shares of Mayville Engineering in the fourth quarter valued at $269,000. Anchor Capital Advisors LLC lifted its position in Mayville Engineering by 2.6% during the 4th quarter. Anchor Capital Advisors LLC now owns 100,805 shares of the company's stock worth $1,585,000 after buying an additional 2,567 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in Mayville Engineering by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock worth $228,000 after buying an additional 1,417 shares in the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Citigroup reduced their price objective on Mayville Engineering from $22.00 to $18.00 and set a "buy" rating on the stock in a report on Thursday, March 6th.
Read Our Latest Research Report on MEC
Mayville Engineering Stock Down 2.4 %
Shares of NYSE:MEC traded down $0.35 during midday trading on Friday, reaching $14.01. The company had a trading volume of 100,848 shares, compared to its average volume of 107,499. The stock has a market cap of $286.08 million, a PE ratio of 23.75 and a beta of 0.92. Mayville Engineering Company, Inc. has a 1-year low of $12.75 and a 1-year high of $23.02. The business's 50 day moving average price is $15.18 and its 200 day moving average price is $17.18. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47.
Mayville Engineering 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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