Harbor Capital Advisors Inc. Has $1.67 Million Stock Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Harbor Capital Advisors Inc. boosted its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 124.4% during the 3rd quarter, Holdings Channel reports. The fund owned 79,122 shares of the company’s stock after buying an additional 43,858 shares during the period. Harbor Capital Advisors Inc.’s holdings in Mayville Engineering were worth $1,668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. lifted its holdings in shares of Mayville Engineering by 0.5% in the 1st quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company’s stock worth $9,220,000 after purchasing an additional 3,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Mayville Engineering by 7.9% in the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock worth $7,712,000 after acquiring an additional 39,460 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Mayville Engineering by 17.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock valued at $8,618,000 after acquiring an additional 77,486 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in Mayville Engineering by 404.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock valued at $4,178,000 after purchasing an additional 201,047 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings in Mayville Engineering by 0.4% during the 1st quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock worth $3,558,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

Mayville Engineering Stock Up 3.6 %

MEC opened at $21.71 on Wednesday. Mayville Engineering Company, Inc. has a fifty-two week low of $10.75 and a fifty-two week high of $23.02. The firm has a market capitalization of $447.66 million, a P/E ratio of 41.75 and a beta of 0.97. The company’s 50-day moving average is $20.05 and its 200 day moving average is $17.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97.

Mayville Engineering (NYSE:MEC) last posted its earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The firm had revenue of $163.64 million for the quarter, compared to analysts’ expectations of $160.38 million. Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. Research analysts expect that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity at Mayville Engineering

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the business’s stock in a transaction on 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 owns 97,053 shares of the company’s stock, 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 Securities & Exchange Commission, which is accessible through this link. 6.40% of the stock is currently owned by company insiders.

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.