Barclays PLC Increases Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

Barclays PLC lifted its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 44.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 37,486 shares of the company’s stock after buying an additional 11,489 shares during the quarter. Barclays PLC owned approximately 0.18% of Mayville Engineering worth $790,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Mayville Engineering by 18.2% during the second quarter. Bank of New York Mellon Corp now owns 48,134 shares of the company’s stock worth $802,000 after purchasing an additional 7,416 shares in the last quarter. Ritholtz Wealth Management purchased a new stake in Mayville Engineering during the 2nd quarter worth about $191,000. Rhumbline Advisers boosted its position in shares of Mayville Engineering by 49.1% during the 2nd quarter. Rhumbline Advisers now owns 19,281 shares of the company’s stock worth $321,000 after acquiring an additional 6,348 shares in the last quarter. Anchor Capital Advisors LLC increased its holdings in shares of Mayville Engineering by 3.1% in the 2nd quarter. Anchor Capital Advisors LLC now owns 122,012 shares of the company’s stock valued at $2,033,000 after acquiring an additional 3,687 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Mayville Engineering by 17.6% during the 2nd 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. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Jagadeesh A. Reddy acquired 5,903 shares of Mayville Engineering stock in a transaction on Thursday, November 7th. The stock was purchased at an average cost of $16.72 per share, with a total value of $98,698.16. Following the purchase, the chief executive officer now directly owns 89,052 shares in the company, valued at approximately $1,488,949.44. The trade was a 7.10 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by company insiders.

Analyst Ratings Changes

MEC has been the topic of several recent analyst reports. Northland Capmk lowered shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities cut shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $30.00 to $20.00 in a report on Thursday, November 7th.

Mayville Engineering Stock Up 0.4 %

Shares of NYSE MEC opened at $15.72 on Wednesday. The business has a 50-day moving average price of $17.49 and a 200 day moving average price of $18.32. The stock has a market cap of $324.52 million, a PE ratio of 26.64 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. Mayville Engineering Company, Inc. has a 52-week low of $11.07 and a 52-week high of $23.02.

Mayville Engineering (NYSE:MEC) last posted 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). 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 period in the previous year, the company posted $0.21 earnings per share. Equities research analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current 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.