Mayville Engineering Company, Inc. $MEC Shares Acquired by Blair William & Co. IL

Blair William & Co. IL lifted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 304.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,448 shares of the company’s stock after purchasing an additional 281,198 shares during the period. Blair William & Co. IL’s holdings in Mayville Engineering were worth $5,960,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in Mayville Engineering by 9,690.3% in the first quarter. GAMMA Investing LLC now owns 3,035 shares of the company’s stock valued at $41,000 after acquiring an additional 3,004 shares in the last quarter. AlphaQuest LLC raised its holdings in Mayville Engineering by 222.8% in the first quarter. AlphaQuest LLC now owns 7,879 shares of the company’s stock valued at $106,000 after acquiring an additional 5,438 shares in the last quarter. CHICAGO TRUST Co NA acquired a new stake in Mayville Engineering in the second quarter valued at $165,000. Oppenheimer Asset Management Inc. acquired a new stake in Mayville Engineering in the first quarter valued at $152,000. Finally, Victory Capital Management Inc. acquired a new stake in Mayville Engineering in the first quarter valued at $180,000. 45.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Mayville Engineering

In related news, CEO Jagadeesh A. Reddy bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $14.06 per share, for a total transaction of $105,450.00. Following the transaction, the chief executive officer directly owned 146,285 shares of the company’s stock, valued at approximately $2,056,767.10. This represents a 5.40% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have bought 9,400 shares of company stock valued at $131,942. Corporate insiders own 7.20% of the company’s stock.

Mayville Engineering Stock Performance

Shares of MEC opened at $12.96 on Monday. The firm has a 50-day moving average price of $14.24 and a 200 day moving average price of $14.57. The firm has a market capitalization of $263.35 million, a PE ratio of 15.25 and a beta of 1.19. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. Mayville Engineering Company, Inc. has a 52-week low of $11.72 and a 52-week high of $23.02.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MEC shares. DA Davidson started coverage on shares of Mayville Engineering in a report on Tuesday, June 17th. They issued a “buy” rating and a $23.00 price target on the stock. Northland Capmk raised shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 12th. Citigroup reiterated a “buy” rating and set a $21.00 target price (up previously from $17.00) on shares of Mayville Engineering in a research note on Monday, July 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Mayville Engineering in a research note on Wednesday, October 8th. Finally, Northland Securities upgraded shares of Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 target price for the company in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company 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.