Raymond James Financial Inc. Purchases Shares of 17,121 Mayville Engineering Company, Inc. (NYSE:MEC)

Raymond James Financial Inc. bought a new position in Mayville Engineering Company, Inc. (NYSE:MEC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 17,121 shares of the company’s stock, valued at approximately $269,000. Raymond James Financial Inc. owned 0.08% of Mayville Engineering at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its holdings in Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock valued at $228,000 after purchasing an additional 1,417 shares in the last quarter. Geode Capital Management LLC raised its position in Mayville Engineering by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 277,679 shares of the company’s stock valued at $5,855,000 after purchasing an additional 14,118 shares during the last quarter. BNP Paribas Financial Markets increased its position in Mayville Engineering by 1,061.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company’s stock valued at $626,000 after acquiring an additional 27,132 shares in the last quarter. Barclays PLC lifted its stake in shares of Mayville Engineering by 44.2% during the third quarter. Barclays PLC now owns 37,486 shares of the company’s stock valued at $790,000 after acquiring an additional 11,489 shares during the period. Finally, Franklin Resources Inc. acquired a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $334,000. 45.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Citigroup lowered their price objective on shares of Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 6th.

Mayville Engineering Trading Down 4.0 %

NYSE:MEC opened at $12.63 on Friday. The company has a market cap of $257.88 million, a P/E ratio of 21.41 and a beta of 0.89. Mayville Engineering Company, Inc. has a twelve month low of $12.01 and a twelve month high of $23.02. The business has a 50 day moving average price of $14.36 and a two-hundred day moving average price of $16.51. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47.

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.