Rhumbline Advisers Acquires 6,348 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Rhumbline Advisers grew its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 49.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,281 shares of the company’s stock after purchasing an additional 6,348 shares during the period. Rhumbline Advisers’ holdings in Mayville Engineering were worth $321,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Mayville Engineering in the first quarter worth $73,000. BNP Paribas Financial Markets lifted its position in Mayville Engineering by 49.6% during the first quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after purchasing an additional 1,799 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Mayville Engineering during the first quarter valued at $147,000. Ritholtz Wealth Management purchased a new position in Mayville Engineering during the second quarter valued at $191,000. Finally, Harbor Capital Advisors Inc. purchased a new position in Mayville Engineering during the second quarter valued at $587,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of Mayville Engineering stock opened at $21.46 on Friday. The stock has a 50 day moving average of $19.03 and a 200 day moving average of $16.53. Mayville Engineering Company, Inc. has a 12 month low of $9.72 and a 12 month high of $22.07. The firm has a market cap of $440.51 million, a PE ratio of 51.10 and a beta of 0.94. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The business had revenue of $163.64 million during the quarter, compared to analyst estimates of $160.38 million. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. On average, research analysts expect that Mayville Engineering Company, Inc. will post 0.68 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Northland Securities lifted their target price on Mayville Engineering from $20.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, June 14th.

Insider Transactions at Mayville Engineering

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total transaction of $411,878.20. Following the transaction, the executive vice president now directly owns 97,053 shares in the company, valued at approximately $1,858,564.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.40% of the company’s stock.

Mayville Engineering 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.