Blair William & Co. IL Grows Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Blair William & Co. IL boosted its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 8.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 157,189 shares of the company’s stock after buying an additional 12,299 shares during the quarter. Blair William & Co. IL owned 0.77% of Mayville Engineering worth $2,619,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in shares of Mayville Engineering during the first quarter valued at approximately $73,000. BNP Paribas Financial Markets raised its stake 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 buying an additional 1,799 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Mayville Engineering during the 1st quarter valued at $147,000. Ritholtz Wealth Management purchased a new position in shares of Mayville Engineering in the 2nd quarter worth $191,000. Finally, Rhumbline Advisers boosted its stake in shares of Mayville Engineering by 49.1% in the 2nd quarter. Rhumbline Advisers now owns 19,281 shares of the company’s stock worth $321,000 after buying an additional 6,348 shares during the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Insider Buying and Selling 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 sale, the executive vice president now directly owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

Mayville Engineering Stock Down 1.9 %

MEC opened at $19.94 on Monday. The firm’s 50 day simple moving average is $18.91 and its two-hundred day simple moving average is $16.38. The company has a market capitalization of $409.31 million, a PE ratio of 47.48 and a beta of 0.94. Mayville Engineering Company, Inc. has a 1-year low of $9.72 and a 1-year high of $20.47. 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 (NYSE:MEC) last announced its earnings results on Tuesday, August 6th. The company reported $0.18 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 for the quarter, compared to analysts’ expectations of $160.38 million. As a group, equities analysts forecast that Mayville Engineering Company, Inc. will post 0.68 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Northland Securities raised their target price on Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th.

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.