Mayville Engineering Company, Inc. (NYSE:MEC) Shares Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lifted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 95.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,470 shares of the company’s stock after buying an additional 6,100 shares during the period. Public Employees Retirement System of Ohio’s holdings in Mayville Engineering were worth $263,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MEC. Jane Street Group LLC grew its position in Mayville Engineering by 25.7% during the third quarter. Jane Street Group LLC now owns 14,235 shares of the company’s stock valued at $300,000 after acquiring an additional 2,909 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Mayville Engineering in the 3rd quarter valued at about $95,000. Jacobs Levy Equity Management Inc. grew its holdings in shares of Mayville Engineering by 91.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 122,055 shares of the company’s stock worth $2,573,000 after purchasing an additional 58,242 shares during the period. Martingale Asset Management L P acquired a new stake in Mayville Engineering during the 3rd quarter worth approximately $766,000. Finally, BNP Paribas Financial Markets raised its holdings in Mayville Engineering by 1,061.5% in the third quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company’s stock valued at $626,000 after buying an additional 27,132 shares during the period. 45.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Mayville Engineering news, CEO Jagadeesh A. Reddy acquired 5,903 shares of the stock in a transaction on Thursday, November 7th. The stock was purchased at an average price of $16.72 per share, for a total transaction of $98,698.16. Following the purchase, the chief executive officer now directly owns 89,052 shares in the company, valued at $1,488,949.44. This trade represents a 7.10 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.40% of the company’s stock.

Mayville Engineering Stock Performance

Mayville Engineering stock opened at $16.19 on Friday. The firm has a market capitalization of $334.23 million, a PE ratio of 27.44 and a beta of 0.90. Mayville Engineering Company, Inc. has a one year low of $11.07 and a one year high of $23.02. The stock’s 50 day moving average price is $18.19 and its 200 day moving average price is $18.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77.

Mayville Engineering (NYSE:MEC) last posted its earnings results on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. The firm had revenue of $135.39 million for the quarter, compared to analyst estimates of $157.22 million. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, sell-side analysts expect that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Northland Securities downgraded shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $30.00 to $20.00 in a research note on Thursday, November 7th. Northland Capmk lowered shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th.

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.