Cubist Systematic Strategies LLC Invests $189,000 in Mayville Engineering Company, Inc. (NYSE:MEC)

Cubist Systematic Strategies LLC bought a new position in Mayville Engineering Company, Inc. (NYSE:MEC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 11,367 shares of the company’s stock, valued at approximately $189,000. Cubist Systematic Strategies LLC owned 0.06% of Mayville Engineering as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Marshall Wace LLP purchased a new stake in shares of Mayville Engineering during the second quarter worth $978,000. Sei Investments Co. raised its holdings in shares of Mayville Engineering by 16.4% during the second quarter. Sei Investments Co. now owns 38,632 shares of the company’s stock worth $644,000 after acquiring an additional 5,444 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in shares of Mayville Engineering by 404.2% during the second quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock worth $4,178,000 after acquiring an additional 201,047 shares in the last quarter. Blair William & Co. IL raised its holdings in shares of Mayville Engineering by 8.5% during the second quarter. Blair William & Co. IL now owns 157,189 shares of the company’s stock worth $2,619,000 after acquiring an additional 12,299 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Mayville Engineering during the second quarter valued at about $372,000. Institutional investors and hedge funds own 45.44% of the company’s stock.

Insider Transactions at Mayville Engineering

In other news, EVP Ryan F. Raber sold 21,508 shares of Mayville Engineering stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $19.15, for a total value 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Northland Securities restated an “outperform” rating and set a $30.00 target price on shares of Mayville Engineering in a report on Tuesday, October 8th.

Mayville Engineering Price Performance

NYSE MEC opened at $21.05 on Tuesday. Mayville Engineering Company, Inc. has a fifty-two week low of $9.72 and a fifty-two week high of $22.07. The stock’s 50-day moving average is $19.48 and its two-hundred day moving average is $17.15. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. The firm has a market cap of $432.09 million, a P/E ratio of 50.12 and a beta of 0.95.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $163.64 million for 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, analysts anticipate that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current fiscal year.

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.