Mayville Engineering Company, Inc. $MEC Holdings Decreased by Deutsche Bank AG

Deutsche Bank AG trimmed its holdings in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 15.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,207 shares of the company’s stock after selling 1,915 shares during the period. Deutsche Bank AG’s holdings in Mayville Engineering were worth $137,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of MEC. Raymond James Financial Inc. acquired a new position in shares of Mayville Engineering in the 4th quarter valued at about $269,000. Barclays PLC grew its position in Mayville Engineering by 1.8% during the fourth quarter. Barclays PLC now owns 38,143 shares of the company’s stock valued at $600,000 after purchasing an additional 657 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Mayville Engineering by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company’s stock valued at $11,077,000 after purchasing an additional 85,086 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in Mayville Engineering in the 4th quarter valued at approximately $44,000. Finally, Northern Trust Corp lifted its position in Mayville Engineering by 3.2% in the 4th quarter. Northern Trust Corp now owns 101,334 shares of the company’s stock worth $1,593,000 after buying an additional 3,134 shares in the last quarter. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Mayville Engineering

In related news, CEO Jagadeesh A. Reddy acquired 7,500 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average cost of $14.06 per share, with a total value of $105,450.00. Following the purchase, the chief executive officer owned 146,285 shares of the company’s stock, valued at approximately $2,056,767.10. The trade was a 5.40% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders purchased 9,400 shares of company stock valued at $131,942. 7.20% of the stock is currently owned by company insiders.

Mayville Engineering Price Performance

NYSE MEC opened at $14.63 on Monday. Mayville Engineering Company, Inc. has a fifty-two week low of $11.72 and a fifty-two week high of $23.02. The stock’s 50-day moving average is $15.54 and its two-hundred day moving average is $14.68. The firm has a market cap of $297.27 million, a P/E ratio of 17.21 and a beta of 1.16. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.63 and a quick ratio of 0.86.

Analysts Set New Price Targets

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

Mayville Engineering Company 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.