Charles Schwab Investment Management Inc. Has $722,000 Stock Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Charles Schwab Investment Management Inc. lifted its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,252 shares of the company’s stock after acquiring an additional 1,760 shares during the period. Charles Schwab Investment Management Inc. owned about 0.17% of Mayville Engineering worth $722,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. US Bancorp DE purchased a new position in Mayville Engineering during the 3rd quarter worth approximately $60,000. Cubist Systematic Strategies LLC purchased a new position in shares of Mayville Engineering during the second quarter valued at $189,000. Ritholtz Wealth Management acquired a new position in Mayville Engineering during the second quarter valued at $191,000. Net Worth Advisory Group acquired a new position in Mayville Engineering during the third quarter valued at $237,000. Finally, Principal Financial Group Inc. purchased a new stake in Mayville Engineering in the 3rd quarter worth about $276,000. Institutional investors and hedge funds own 45.44% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Jagadeesh A. Reddy bought 5,903 shares of the company’s stock in a transaction dated 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 acquisition, the chief executive officer now owns 89,052 shares in the company, valued at approximately $1,488,949.44. This represents a 7.10 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.40% of the company’s stock.

Mayville Engineering Stock Down 2.6 %

Shares of Mayville Engineering stock opened at $16.25 on Thursday. Mayville Engineering Company, Inc. has a 12-month low of $11.07 and a 12-month high of $23.02. The stock has a market capitalization of $335.47 million, a P/E ratio of 27.54 and a beta of 0.90. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $18.36 and a two-hundred day moving average price of $18.34.

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

Analysts Set New Price Targets

Several brokerages have weighed in on MEC. Northland Securities lowered Mayville Engineering from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $20.00 in a research report on Thursday, November 7th. Northland Capmk downgraded Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report 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.