US Bancorp DE Invests $60,000 in Mayville Engineering Company, Inc. (NYSE:MEC)

US Bancorp DE bought a new stake in Mayville Engineering Company, Inc. (NYSE:MEC) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,853 shares of the company’s stock, valued at approximately $60,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ancora Advisors LLC grew its position in Mayville Engineering by 0.4% in the first quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock valued at $3,558,000 after acquiring an additional 1,100 shares in the last quarter. Pullen Investment Management LLC boosted its stake in shares of Mayville Engineering by 4.1% in the second quarter. Pullen Investment Management LLC now owns 39,686 shares of the company’s stock valued at $661,000 after purchasing an additional 1,578 shares during the period. BNP Paribas Financial Markets grew its holdings in Mayville Engineering by 49.6% during the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after purchasing an additional 1,799 shares in the last quarter. Kennedy Capital Management LLC increased its stake in Mayville Engineering by 2.1% during the 1st quarter. Kennedy Capital Management LLC now owns 96,831 shares of the company’s stock worth $1,388,000 after buying an additional 1,980 shares during the period. Finally, Anchor Capital Advisors LLC lifted its holdings in Mayville Engineering by 3.1% in the 2nd quarter. Anchor Capital Advisors LLC now owns 122,012 shares of the company’s stock worth $2,033,000 after buying an additional 3,687 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

Insider Buying and Selling

In other news, EVP Ryan F. Raber sold 21,508 shares of Mayville Engineering stock in a transaction 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 transaction, the executive vice president now directly owns 97,053 shares in the company, valued at approximately $1,858,564.95. This trade represents a 18.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jagadeesh A. Reddy purchased 5,903 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was acquired at an average cost of $16.72 per share, with a total value of $98,698.16. Following the completion of the acquisition, the chief executive officer now directly owns 89,052 shares in the company, valued at $1,488,949.44. The trade was a 7.10 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Mayville Engineering Trading Down 2.4 %

NYSE:MEC opened at $16.81 on Monday. The firm has a market capitalization of $346.96 million, a P/E ratio of 28.49 and a beta of 0.97. The business has a 50 day simple moving average of $19.75 and a 200 day simple moving average of $18.09. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. Mayville Engineering Company, Inc. has a 12-month low of $11.07 and a 12-month high of $23.02.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. The firm had revenue of $135.39 million during the quarter, compared to the consensus estimate of $157.22 million. During the same quarter in the prior year, the business earned $0.21 earnings per share. Equities research analysts predict that Mayville Engineering Company, Inc. will post 0.31 EPS for the current year.

Mayville Engineering Company 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.