Mayville Engineering Company, Inc. (NYSE:MEC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC raised its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 29.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,791 shares of the company’s stock after purchasing an additional 3,564 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.08% of Mayville Engineering worth $212,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Nokomis Capital L.L.C. raised its position in Mayville Engineering by 270.0% in the fourth quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company’s stock worth $7,071,000 after acquiring an additional 328,223 shares in the last quarter. Granahan Investment Management LLC raised its position in shares of Mayville Engineering by 71.2% during the 4th quarter. Granahan Investment Management LLC now owns 578,967 shares of the company’s stock worth $9,101,000 after purchasing an additional 240,752 shares during the last quarter. Polar Asset Management Partners Inc. purchased a new stake in shares of Mayville Engineering in the fourth quarter valued at $1,518,000. Dimensional Fund Advisors LP boosted its stake in shares of Mayville Engineering by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company’s stock worth $11,077,000 after purchasing an additional 85,086 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Mayville Engineering by 61.0% in the 4th quarter. American Century Companies Inc. now owns 219,713 shares of the company’s stock worth $3,454,000 after acquiring an additional 83,213 shares during the period. 45.44% of the stock is owned by hedge funds and other institutional investors.

Mayville Engineering Stock Performance

Shares of MEC opened at $16.45 on Thursday. Mayville Engineering Company, Inc. has a 52-week low of $11.72 and a 52-week high of $23.02. The company has a quick ratio of 0.91, a current ratio of 1.67 and a debt-to-equity ratio of 0.31. The firm has a market cap of $336.58 million, a price-to-earnings ratio of 15.23 and a beta of 1.15. The business’s 50 day moving average is $15.39 and its two-hundred day moving average is $14.80.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. Mayville Engineering had a net margin of 4.09% and a return on equity of 9.30%. The company had revenue of $135.58 million for the quarter, compared to analysts’ expectations of $134.52 million. During the same period in the prior year, the company earned $0.22 earnings per share. Analysts forecast that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MEC has been the subject of several analyst reports. Citigroup dropped their target price on Mayville Engineering from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Monday, April 14th. DA Davidson assumed coverage on Mayville Engineering in a research note on Tuesday, June 17th. They set a “buy” rating and a $23.00 price objective on the stock.

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.