American Century Companies Inc. Purchases 32,426 Shares of Mayville Engineering Company, Inc. $MEC

American Century Companies Inc. boosted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 14.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 252,139 shares of the company’s stock after acquiring an additional 32,426 shares during the period. American Century Companies Inc. owned 1.23% of Mayville Engineering worth $3,386,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nuveen LLC acquired a new position in shares of Mayville Engineering during the first quarter worth $644,000. CenterBook Partners LP acquired a new position in Mayville Engineering during the 1st quarter valued at about $1,324,000. Royce & Associates LP increased its position in Mayville Engineering by 1.2% during the 1st quarter. Royce & Associates LP now owns 591,319 shares of the company’s stock valued at $7,941,000 after buying an additional 7,022 shares in the last quarter. SeaBridge Investment Advisors LLC purchased a new stake in Mayville Engineering in the first quarter valued at about $220,000. Finally, Victory Capital Management Inc. acquired a new stake in Mayville Engineering in the first quarter worth about $180,000. 45.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on MEC shares. DA Davidson began coverage on shares of Mayville Engineering in a research report on Tuesday, June 17th. They issued a “buy” rating and a $23.00 price objective for the company. Northland Capmk raised shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Northland Securities raised shares of Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price objective on the stock in a report on Tuesday, August 12th. Finally, Citigroup reissued a “buy” rating and issued a $21.00 target price (up from $17.00) on shares of Mayville Engineering in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. Based on data from MarketBeat.com, Mayville Engineering presently has an average rating of “Buy” and an average target price of $20.67.

Mayville Engineering Stock Performance

MEC opened at $14.63 on Friday. The company has a current ratio of 1.63, a quick ratio of 0.86 and a debt-to-equity ratio of 0.28. Mayville Engineering Company, Inc. has a 12-month low of $11.72 and a 12-month high of $23.02. The firm has a 50 day moving average of $15.54 and a two-hundred day moving average of $14.69. The firm has a market capitalization of $297.30 million, a PE ratio of 17.21 and a beta of 1.19.

Insider Buying and Selling at Mayville Engineering

In other Mayville Engineering news, CEO Jagadeesh A. Reddy bought 7,500 shares of Mayville Engineering stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $14.06 per share, with a total value of $105,450.00. Following the completion of the acquisition, the chief executive officer directly owned 146,285 shares in the company, valued at approximately $2,056,767.10. This trade represents a 5.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have acquired a total of 9,400 shares of company stock valued at $131,942 in the last quarter. 7.20% of the stock is owned by corporate insiders.

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.