Principal Financial Group Inc. Acquires 1,417 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Principal Financial Group Inc. increased its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,529 shares of the company’s stock after purchasing an additional 1,417 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of Mayville Engineering worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. US Bancorp DE bought a new stake in Mayville Engineering during the 3rd quarter valued at approximately $60,000. Cornercap Investment Counsel Inc. bought a new stake in Mayville Engineering during the 3rd quarter valued at approximately $278,000. Empowered Funds LLC boosted its position in Mayville Engineering by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 87,017 shares of the company’s stock valued at $1,834,000 after acquiring an additional 4,422 shares in the last quarter. Avior Wealth Management LLC boosted its position in Mayville Engineering by 116.9% during the 3rd quarter. Avior Wealth Management LLC now owns 22,919 shares of the company’s stock valued at $483,000 after acquiring an additional 12,354 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Mayville Engineering by 37.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 41,130 shares of the company’s stock worth $867,000 after purchasing an additional 11,137 shares in the last quarter. 45.44% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped their price target on Mayville Engineering from $22.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday.

Mayville Engineering Price Performance

Shares of NYSE MEC opened at $14.33 on Friday. Mayville Engineering Company, Inc. has a twelve month low of $12.47 and a twelve month high of $23.02. The firm has a market cap of $295.81 million, a P/E ratio of 24.29 and a beta of 0.92. The company has a 50 day moving average of $15.39 and a 200 day moving average of $17.53. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47.

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.