Bailard Inc. Acquires Shares of 17,800 Mayville Engineering Company, Inc. $MEC

Bailard Inc. bought a new position in Mayville Engineering Company, Inc. (NYSE:MEC) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 17,800 shares of the company’s stock, valued at approximately $284,000. Bailard Inc. owned about 0.09% of Mayville Engineering at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MEC. Geode Capital Management LLC lifted its stake in Mayville Engineering by 9.5% in the second quarter. Geode Capital Management LLC now owns 318,321 shares of the company’s stock worth $5,081,000 after purchasing an additional 27,552 shares during the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Mayville Engineering by 0.6% in the second quarter. First Eagle Investment Management LLC now owns 354,075 shares of the company’s stock worth $5,651,000 after buying an additional 2,200 shares during the period. Blair William & Co. IL lifted its stake in shares of Mayville Engineering by 304.8% during the 2nd quarter. Blair William & Co. IL now owns 373,448 shares of the company’s stock worth $5,960,000 after acquiring an additional 281,198 shares during the last quarter. Sheets Smith Wealth Management boosted its holdings in Mayville Engineering by 1.8% during the 2nd quarter. Sheets Smith Wealth Management now owns 38,585 shares of the company’s stock valued at $616,000 after acquiring an additional 680 shares during the period. Finally, CHICAGO TRUST Co NA purchased a new position in Mayville Engineering during the 2nd quarter valued at $165,000. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Stock Down 1.4%

NYSE:MEC opened at $15.99 on Friday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.82 and a quick ratio of 1.04. Mayville Engineering Company, Inc. has a 1-year low of $11.72 and a 1-year high of $19.05. The company has a 50-day moving average of $14.88 and a 200 day moving average of $15.13. The firm has a market cap of $324.92 million, a PE ratio of 27.57 and a beta of 1.21.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.05 by $0.05. Mayville Engineering had a net margin of 2.29% and a return on equity of 5.88%. The business had revenue of $144.31 million during the quarter, compared to analyst estimates of $141.36 million. Mayville Engineering has set its FY 2025 guidance at EPS. As a group, research analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MEC shares. 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. Craig Hallum set a $24.00 price target on shares of Mayville Engineering and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a report on Wednesday, October 8th. Finally, Northland Capmk upgraded shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $21.50.

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.