Anchor Capital Advisors LLC Has $2.03 Million Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

Anchor Capital Advisors LLC grew its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 3.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 122,012 shares of the company’s stock after purchasing an additional 3,687 shares during the period. Anchor Capital Advisors LLC owned about 0.59% of Mayville Engineering worth $2,033,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. First Eagle Investment Management LLC acquired a new position in shares of Mayville Engineering in the 1st quarter valued at about $713,000. Vanguard Group Inc. increased its holdings in shares of Mayville Engineering by 7.9% in 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 period. Russell Investments Group Ltd. increased its holdings in shares of Mayville Engineering by 65.6% in the 1st quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock valued at $2,203,000 after purchasing an additional 60,896 shares during the period. Harbor Capital Advisors Inc. acquired a new position in shares of Mayville Engineering in the 2nd quarter valued at about $587,000. Finally, Panagora Asset Management Inc. increased its holdings in shares of Mayville Engineering by 2.7% in the 4th quarter. Panagora Asset Management Inc. now owns 43,113 shares of the company’s stock valued at $622,000 after purchasing an additional 1,132 shares during the period. Institutional investors and hedge funds own 45.44% of the company’s stock.

Analysts Set New Price Targets

Separately, Northland Securities increased their price objective on Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, June 14th.

Mayville Engineering Trading Down 1.1 %

NYSE:MEC opened at $18.37 on Monday. The stock’s 50 day moving average price is $18.37 and its 200 day moving average price is $15.89. Mayville Engineering Company, Inc. has a 52 week low of $9.72 and a 52 week high of $19.94. The company has a market capitalization of $378.79 million, a P/E ratio of 43.74 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.97 and a current ratio of 1.71.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. The firm had revenue of $163.64 million for the quarter, compared to the consensus estimate of $160.38 million. On average, research analysts forecast that Mayville Engineering Company, Inc. will post 0.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total transaction of $411,878.20. Following the completion of the sale, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.