Globeflex Capital L P Has $1.83 Million Stake in Mayville Engineering Company, Inc. (NYSE:MEC)

Globeflex Capital L P decreased its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 19.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,468 shares of the company’s stock after selling 27,958 shares during the period. Globeflex Capital L P owned about 0.56% of Mayville Engineering worth $1,831,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MEC. Jacobs Levy Equity Management Inc. boosted its position in Mayville Engineering by 91.3% during the third 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 bought a new stake in Mayville Engineering during the third quarter worth approximately $766,000. Janney Montgomery Scott LLC bought a new stake in Mayville Engineering during the fourth quarter worth approximately $545,000. First Eagle Investment Management LLC boosted its position in Mayville Engineering by 10.8% during the fourth quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company’s stock worth $5,225,000 after purchasing an additional 32,500 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in Mayville Engineering by 1,061.5% during the third quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company’s stock worth $626,000 after purchasing an additional 27,132 shares during the period. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Stock Performance

Shares of NYSE MEC opened at $14.31 on Friday. The business has a fifty day simple moving average of $15.27 and a 200 day simple moving average of $17.36. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $292.21 million, a price-to-earnings ratio of 24.25 and a beta of 0.92. Mayville Engineering Company, Inc. has a one year low of $12.50 and a one year high of $23.02.

Wall Street Analyst Weigh In

Separately, Citigroup reduced their price objective on Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a research 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.