Mayville Engineering Company, Inc. (NYSE:MEC) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 4.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 584,297 shares of the company’s stock after buying an additional 23,749 shares during the quarter. Royce & Associates LP owned approximately 2.83% of Mayville Engineering worth $9,185,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MEC. Jacobs Levy Equity Management Inc. raised its position in shares of Mayville Engineering by 91.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 122,055 shares of the company’s stock worth $2,573,000 after acquiring an additional 58,242 shares in the last quarter. Martingale Asset Management L P acquired a new stake in Mayville Engineering during the third quarter worth approximately $766,000. Janney Montgomery Scott LLC purchased a new stake in shares of Mayville Engineering during the 4th quarter worth approximately $545,000. First Eagle Investment Management LLC boosted its holdings in shares of Mayville Engineering by 10.8% in the 4th quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company’s stock valued at $5,225,000 after buying an additional 32,500 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in shares of Mayville Engineering by 1,061.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company’s stock valued at $626,000 after buying an additional 27,132 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Citigroup reduced their price target on shares of Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 6th.

Mayville Engineering Trading Down 1.0 %

MEC opened at $14.18 on Wednesday. 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, Inc. has a 52 week low of $12.75 and a 52 week high of $23.02. The business’s 50 day moving average is $15.22 and its two-hundred day moving average is $17.26. The firm has a market cap of $289.56 million, a price-to-earnings ratio of 24.03 and a beta of 0.92.

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.