22NW LP Buys New Position in Mayville Engineering Company, Inc. $MEC

22NW LP purchased 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 Securities and Exchange Commission (SEC). The fund purchased 155,450 shares of the company’s stock, valued at approximately $2,481,000. Mayville Engineering makes up about 1.8% of 22NW LP’s portfolio, making the stock its 16th largest holding. 22NW LP owned about 0.77% of Mayville Engineering as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Mayville Engineering by 0.8% during the second quarter. Arrowstreet Capital Limited Partnership now owns 268,635 shares of the company’s stock worth $4,287,000 after purchasing an additional 2,235 shares during the last quarter. Panagora Asset Management Inc. acquired a new stake in Mayville Engineering in the second quarter valued at about $622,000. Russell Investments Group Ltd. lifted its holdings in shares of Mayville Engineering by 7.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 216,179 shares of the company’s stock valued at $3,450,000 after buying an additional 15,867 shares during the period. American Century Companies Inc. boosted its position in shares of Mayville Engineering by 21.8% during the 2nd quarter. American Century Companies Inc. now owns 306,982 shares of the company’s stock worth $4,899,000 after purchasing an additional 54,843 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Mayville Engineering by 8.3% during the second quarter. Rhumbline Advisers now owns 19,969 shares of the company’s stock worth $319,000 after buying an additional 1,526 shares in the last quarter. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Mayville Engineering

In other news, EVP Ryan F. Raber sold 15,000 shares of the company’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $16.68, for a total transaction of $250,200.00. Following the completion of the transaction, the executive vice president owned 91,018 shares of the company’s stock, valued at approximately $1,518,180.24. This represents a 14.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

Mayville Engineering Trading Down 2.6%

Shares of NYSE:MEC opened at $16.49 on Monday. The stock has a market capitalization of $334.98 million, a price-to-earnings ratio of 28.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.04 and a current ratio of 1.82. The company has a 50 day moving average price of $15.46 and a 200 day moving average price of $15.32. Mayville Engineering Company, Inc. has a 1-year low of $11.72 and a 1-year high of $19.05.

Mayville Engineering (NYSE:MEC) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.05. The firm had revenue of $144.31 million during the quarter, compared to the consensus estimate of $141.36 million. Mayville Engineering had a return on equity of 5.88% and a net margin of 2.29%. On average, research analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on MEC. Northland Securities raised Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price target for the company in a research report on Tuesday, August 12th. Northland Capmk upgraded shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Craig Hallum set a $24.00 price objective on Mayville Engineering and gave the company a “buy” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Mayville Engineering in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price 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.