11,226 Shares in Mayville Engineering Company, Inc. (NYSE:MEC) Bought by Net Worth Advisory Group

Net Worth Advisory Group acquired a new position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 11,226 shares of the company’s stock, valued at approximately $237,000. Net Worth Advisory Group owned 0.05% of Mayville Engineering as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MEC. First Eagle Investment Management LLC raised its holdings in shares of Mayville Engineering by 404.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock worth $4,178,000 after buying an additional 201,047 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Mayville Engineering by 17.6% during the second quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock worth $8,618,000 after acquiring an additional 77,486 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Mayville Engineering by 65.6% in the first quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock worth $2,203,000 after acquiring an additional 60,896 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Mayville Engineering in the 2nd quarter valued at approximately $978,000. Finally, Vanguard Group Inc. grew its holdings in shares of Mayville Engineering by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock valued at $7,712,000 after purchasing an additional 39,460 shares during the last quarter. 45.44% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Ryan F. Raber sold 21,508 shares of the business’s 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 sale, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 6.40% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Northland Securities reissued an “outperform” rating and issued a $30.00 price objective on shares of Mayville Engineering in a research note on Tuesday, October 8th.

Mayville Engineering Price Performance

Shares of MEC opened at $20.36 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.51. The stock has a market cap of $417.93 million, a PE ratio of 48.48 and a beta of 0.95. Mayville Engineering Company, Inc. has a 12-month low of $9.72 and a 12-month high of $22.07. The business has a 50-day simple moving average of $19.75 and a two-hundred day simple moving average of $17.40.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $160.38 million. Analysts anticipate that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current fiscal year.

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.