Sei Investments Co. Has $644,000 Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

Sei Investments Co. lifted its stake in Mayville Engineering Company, Inc. (NYSE:MEC) by 16.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,632 shares of the company’s stock after purchasing an additional 5,444 shares during the period. Sei Investments Co. owned 0.19% of Mayville Engineering worth $644,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MEC. Lazard Asset Management LLC acquired a new stake in shares of Mayville Engineering in the 1st quarter valued at $73,000. BNP Paribas Financial Markets increased its position in Mayville Engineering by 49.6% in the first quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock worth $78,000 after purchasing an additional 1,799 shares during the period. Janney Montgomery Scott LLC bought a new stake in Mayville Engineering during the 1st quarter worth about $147,000. Ritholtz Wealth Management acquired a new position in Mayville Engineering during the 2nd quarter valued at about $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 valued at $321,000 after purchasing an additional 6,348 shares during the last quarter. Institutional investors own 45.44% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities reissued an “outperform” rating and set a $30.00 price target on shares of Mayville Engineering in a research note on Tuesday.

Mayville Engineering Trading Down 0.4 %

NYSE:MEC opened at $20.04 on Wednesday. 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 $22.07. The firm has a market capitalization of $411.36 million, a price-to-earnings ratio of 47.76 and a beta of 0.95. The business’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $16.93.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 earnings per share for the quarter, topping 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 company had revenue of $163.64 million for the quarter, compared to analysts’ expectations of $160.38 million. On average, equities analysts expect that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current year.

Insider Buying and Selling at Mayville Engineering

In other news, EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $19.15, for a total transaction of $411,878.20. Following the sale, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.