Mayville Engineering Company, Inc. (NYSE:MEC) Shares Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio raised its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 95.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,470 shares of the company’s stock after acquiring an additional 6,100 shares during the quarter. Public Employees Retirement System of Ohio owned 0.06% of Mayville Engineering worth $263,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in shares of Mayville Engineering by 25.7% in the third quarter. Jane Street Group LLC now owns 14,235 shares of the company’s stock valued at $300,000 after purchasing an additional 2,909 shares during the period. Point72 Asset Management L.P. purchased a new position in Mayville Engineering in the third quarter valued at about $95,000. Jacobs Levy Equity Management Inc. lifted 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 valued at $2,573,000 after acquiring an additional 58,242 shares during the period. Martingale Asset Management L P purchased a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $766,000. Finally, BNP Paribas Financial Markets grew its holdings 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 worth $626,000 after acquiring an additional 27,132 shares during the period. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, CEO Jagadeesh A. Reddy bought 5,903 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was purchased at an average cost 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 $1,488,949.44. This trade represents a 7.10 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.40% of the company’s stock.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $16.19 on Friday. Mayville Engineering Company, Inc. has a one year low of $11.07 and a one year high of $23.02. The stock has a market cap of $334.23 million, a PE ratio of 27.44 and a beta of 0.90. The business’s fifty day moving average price is $18.19 and its two-hundred day moving average price is $18.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The company had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $157.22 million. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. During the same quarter in the prior year, the business posted $0.21 EPS. On average, analysts forecast that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Northland Capmk downgraded Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 7th. Northland Securities cut shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $30.00 to $20.00 in a research note on Thursday, November 7th.

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.