Mayville Engineering Company, Inc. (NYSE:MEC) Short Interest Update

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 149,100 shares, a decline of 35.7% from the September 30th total of 232,000 shares. Based on an average daily trading volume, of 107,700 shares, the short-interest ratio is currently 1.4 days. Currently, 1.0% of the shares of the stock are short sold.

Insider Activity

In related news, EVP Ryan F. Raber sold 21,508 shares of the stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total transaction of $411,878.20. Following the sale, the executive vice president now owns 97,053 shares of the company's stock, valued at $1,858,564.95. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Mayville Engineering

A number of hedge funds have recently added to or reduced their stakes in MEC. First Eagle Investment Management LLC bought a new stake in Mayville Engineering in the first quarter valued at $713,000. Vanguard Group Inc. increased its position in Mayville Engineering by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company's stock valued at $7,712,000 after buying an additional 39,460 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Mayville Engineering by 65.6% during the 1st quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company's stock worth $2,203,000 after buying an additional 60,896 shares during the period. Harbor Capital Advisors Inc. bought a new position in Mayville Engineering in the second quarter worth approximately $587,000. Finally, Ritholtz Wealth Management acquired a new stake in Mayville Engineering in the second quarter valued at approximately $191,000. 45.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Northland Securities reissued an "outperform" rating and issued a $30.00 target price on shares of Mayville Engineering in a report on Tuesday, October 8th.

Mayville Engineering Price Performance

Shares of MEC stock traded down $0.17 on Friday, hitting $19.99. 69,731 shares of the company's stock were exchanged, compared to its average volume of 86,525. Mayville Engineering has a 12 month low of $9.72 and a 12 month high of $22.07. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. The stock has a market cap of $412.19 million, a P/E ratio of 38.44 and a beta of 0.95. The company has a 50 day moving average of $19.81 and a 200 day moving average of $17.54.

Mayville Engineering (NYSE:MEC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.01. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. The company had revenue of $163.64 million during the quarter, compared to the consensus estimate of $160.38 million. On average, equities research analysts predict that Mayville Engineering will post 0.68 EPS for the current year.

About Mayville Engineering

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.