First Eagle Investment Management LLC grew its stake in Mayville Engineering Company, Inc. (NYSE:MEC – Free Report) by 404.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,785 shares of the company’s stock after buying an additional 201,047 shares during the period. First Eagle Investment Management LLC owned approximately 1.22% of Mayville Engineering worth $4,178,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Tocqueville Asset Management L.P. lifted its holdings in Mayville Engineering by 0.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company’s stock worth $9,220,000 after purchasing an additional 3,000 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Mayville Engineering by 7.9% in the first 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 last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Mayville Engineering by 17.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock worth $8,618,000 after buying an additional 77,486 shares during the period. Ancora Advisors LLC grew its stake in Mayville Engineering by 0.4% in the 1st quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock valued at $3,558,000 after buying an additional 1,100 shares during the last quarter. Finally, JB Capital Partners LP raised its holdings in Mayville Engineering by 14.5% in the 4th quarter. JB Capital Partners LP now owns 170,003 shares of the company’s stock worth $2,451,000 after acquiring an additional 21,525 shares during the period. Institutional investors own 45.44% of the company’s stock.
Mayville Engineering Stock Down 1.9 %
MEC opened at $19.94 on Friday. The business has a 50 day moving average of $18.91 and a 200-day moving average of $16.34. The stock has a market capitalization of $409.31 million, a price-to-earnings ratio of 47.48 and a beta of 0.94. 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 1-year low of $9.72 and a 1-year high of $20.47.
Wall Street Analyst Weigh In
Separately, Northland Securities raised their price target on Mayville Engineering from $20.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, June 14th.
View Our Latest Stock Analysis on MEC
Insider Activity at Mayville Engineering
In other news, EVP Ryan F. Raber sold 21,508 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value 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. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate 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.
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