Marshall Wace LLP Acquires Shares of 58,686 Mayville Engineering Company, Inc. (NYSE:MEC)

Marshall Wace LLP bought a new position in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 58,686 shares of the company's stock, valued at approximately $978,000. Marshall Wace LLP owned about 0.29% of Mayville Engineering at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Mayville Engineering during the first quarter worth about $73,000. BNP Paribas Financial Markets lifted its holdings in Mayville Engineering by 49.6% during the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company's stock valued at $78,000 after purchasing an additional 1,799 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Mayville Engineering during the first quarter worth $147,000. Ritholtz Wealth Management acquired a new position in shares of Mayville Engineering in the second quarter valued at $191,000. Finally, Rhumbline Advisers raised its position in shares of Mayville Engineering by 49.1% in the second quarter. Rhumbline Advisers now owns 19,281 shares of the company's stock valued at $321,000 after purchasing an additional 6,348 shares during the period. Institutional investors own 45.44% of the company's stock.

Wall Street Analyst Weigh In

Separately, Northland Securities reaffirmed an "outperform" rating and set a $30.00 price objective on shares of Mayville Engineering in a research report on Tuesday.

Mayville Engineering Trading Down 0.4 %

MEC stock traded down $0.08 during mid-day trading on Tuesday, reaching $20.04. The company's stock had a trading volume of 77,387 shares, compared to its average volume of 87,211. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. Mayville Engineering Company, Inc. has a 12 month low of $9.72 and a 12 month high of $22.07. The business's 50 day moving average price is $19.27 and its 200 day moving average price is $16.93. The company has a market cap of $411.36 million, a price-to-earnings ratio of 47.76 and a beta of 0.95.

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, beating analysts' consensus estimates of $0.17 by $0.01. Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. The firm had revenue of $163.64 million during the quarter, compared to analysts' expectations of $160.38 million. On average, equities research analysts predict that Mayville Engineering Company, Inc. will post 0.68 EPS for the current year.

Insider Buying and Selling

In related news, EVP Ryan F. Raber sold 21,508 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $19.15, for a total transaction of $411,878.20. Following the completion of the transaction, the executive vice president now owns 97,053 shares in the company, valued at approximately $1,858,564.95. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.40% of the stock is currently owned by corporate insiders.

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.