Invesco Ltd. Has $566,000 Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Invesco Ltd. cut its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 83.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 36,000 shares of the company’s stock after selling 182,871 shares during the quarter. Invesco Ltd. owned approximately 0.17% of Mayville Engineering worth $566,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MEC. AlphaQuest LLC bought a new position in Mayville Engineering in the 4th quarter valued at $38,000. R Squared Ltd acquired a new position in shares of Mayville Engineering during the fourth quarter valued at $40,000. Integrated Quantitative Investments LLC bought a new position in Mayville Engineering in the fourth quarter valued at about $177,000. Principal Financial Group Inc. increased its position in Mayville Engineering by 10.8% in the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock worth $228,000 after purchasing an additional 1,417 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Mayville Engineering during the 4th quarter worth about $269,000. 45.44% of the stock is owned by institutional investors.

Mayville Engineering Stock Performance

MEC stock opened at $13.35 on Friday. 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 twelve month low of $11.72 and a twelve month high of $23.02. The business’s fifty day moving average is $13.37 and its 200-day moving average is $15.62. The company has a market cap of $272.61 million, a P/E ratio of 22.63 and a beta of 0.89.

Analysts Set New Price Targets

Separately, Citigroup reduced their target price on shares of Mayville Engineering from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Monday, April 14th.

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.