Allspring Global Investments Holdings LLC trimmed its position in Mayville Engineering Company, Inc. (NYSE:MEC – Free Report) by 0.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,618,558 shares of the company’s stock after selling 6,129 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 12.86% of Mayville Engineering worth $37,524,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in MEC. Panagora Asset Management Inc. increased its stake in Mayville Engineering by 2.7% during the fourth quarter. Panagora Asset Management Inc. now owns 43,113 shares of the company’s stock valued at $622,000 after purchasing an additional 1,132 shares during the last quarter. Sheets Smith Wealth Management boosted its stake in Mayville Engineering by 4.9% in the fourth quarter. Sheets Smith Wealth Management now owns 35,890 shares of the company’s stock valued at $518,000 after acquiring an additional 1,665 shares during the period. Gladius Capital Management LP bought a new position in shares of Mayville Engineering during the third quarter valued at approximately $33,000. Avior Wealth Management LLC acquired a new stake in shares of Mayville Engineering during the 4th quarter worth approximately $150,000. Finally, JB Capital Partners LP lifted its holdings in shares of Mayville Engineering by 14.5% in the 4th quarter. JB Capital Partners LP now owns 170,003 shares of the company’s stock worth $2,451,000 after purchasing an additional 21,525 shares during the last quarter. 45.44% of the stock is owned by institutional investors and hedge funds.
Mayville Engineering Stock Up 1.4 %
Shares of Mayville Engineering stock opened at $16.39 on Friday. Mayville Engineering Company, Inc. has a 1-year low of $9.72 and a 1-year high of $17.00. The company has a market capitalization of $336.49 million, a P/E ratio of 39.02 and a beta of 0.94. The business’s fifty day moving average price is $15.76 and its two-hundred day moving average price is $14.18. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.84 and a quick ratio of 1.00.
Wall Street Analyst Weigh In
A number of brokerages recently commented on MEC. Northland Securities upped their price objective on Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th. Citigroup increased their price objective on shares of Mayville Engineering from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Finally, William Blair upgraded shares of Mayville Engineering to a “strong-buy” rating in a research report on Wednesday, May 8th.
Read Our Latest Stock Analysis on Mayville Engineering
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.
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