BNP Paribas Financial Markets Boosts Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

BNP Paribas Financial Markets grew its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 1,061.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,688 shares of the company’s stock after purchasing an additional 27,132 shares during the period. BNP Paribas Financial Markets owned approximately 0.14% of Mayville Engineering worth $626,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Pullen Investment Management LLC grew its stake in shares of Mayville Engineering by 4.1% in the second quarter. Pullen Investment Management LLC now owns 39,686 shares of the company’s stock valued at $661,000 after buying an additional 1,578 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Mayville Engineering by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,252 shares of the company’s stock valued at $722,000 after acquiring an additional 1,760 shares in the last quarter. US Bancorp DE purchased a new stake in shares of Mayville Engineering during the third quarter valued at approximately $60,000. Harvest Fund Management Co. Ltd acquired a new stake in Mayville Engineering during the 3rd quarter valued at $62,000. Finally, Quantbot Technologies LP purchased a new stake in Mayville Engineering during the 3rd quarter worth $70,000. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Analyst Upgrades and Downgrades

MEC has been the subject of several research analyst reports. Northland Capmk cut Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities lowered shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $30.00 to $20.00 in a report on Thursday, November 7th.

Insider Buying and Selling

In other news, CEO Jagadeesh A. Reddy bought 5,903 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was bought at an average price of $16.72 per share, for a total transaction of $98,698.16. Following the completion of the purchase, the chief executive officer now owns 89,052 shares of the company’s stock, valued at approximately $1,488,949.44. The trade was a 7.10 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by insiders.

Mayville Engineering Stock Performance

MEC opened at $17.28 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47. The firm has a market cap of $356.73 million, a PE ratio of 29.29 and a beta of 0.90. The business has a fifty day simple moving average of $18.68 and a 200-day simple moving average of $18.30. Mayville Engineering Company, Inc. has a fifty-two week low of $11.07 and a fifty-two week high of $23.02.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The business had revenue of $135.39 million during the quarter, compared to analyst estimates of $157.22 million. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. During the same period last year, the business earned $0.21 EPS. As a group, equities analysts predict that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

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.