2,441 Shares in Mayville Engineering Company, Inc. (NYSE:MEC) Bought by AlphaQuest LLC

AlphaQuest LLC purchased a new position in Mayville Engineering Company, Inc. (NYSE:MEC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,441 shares of the company’s stock, valued at approximately $38,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MEC. R Squared Ltd bought a new position in Mayville Engineering in the fourth quarter worth $40,000. Harvest Fund Management Co. Ltd bought a new position in Mayville Engineering in the third quarter worth $62,000. Quantbot Technologies LP bought a new position in Mayville Engineering in the third quarter worth $70,000. Point72 Asset Management L.P. bought a new position in Mayville Engineering in the third quarter worth $95,000. Finally, Principal Financial Group Inc. raised its holdings in Mayville Engineering by 10.8% in the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock worth $228,000 after purchasing an additional 1,417 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $14.34 on Friday. Mayville Engineering Company, Inc. has a 1-year low of $12.75 and a 1-year high of $23.02. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The business has a fifty day moving average price of $15.19 and a 200-day moving average price of $17.22. The company has a market capitalization of $292.84 million, a PE ratio of 24.31 and a beta of 0.92.

Analyst Upgrades and Downgrades

Separately, Citigroup decreased their price objective on Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 6th.

About Mayville Engineering

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.