Anchor Capital Advisors LLC Boosts Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Anchor Capital Advisors LLC raised its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 76.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 95,749 shares of the company’s stock after purchasing an additional 41,471 shares during the period. Anchor Capital Advisors LLC owned 0.47% of Mayville Engineering worth $1,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. increased its holdings in shares of Mayville Engineering by 10.6% in the third quarter. Tocqueville Asset Management L.P. now owns 649,710 shares of the company’s stock valued at $7,127,000 after buying an additional 62,500 shares in the last quarter. Ancora Advisors LLC grew its stake in shares of Mayville Engineering by 53.9% in the third quarter. Ancora Advisors LLC now owns 164,877 shares of the company’s stock valued at $1,809,000 after buying an additional 57,764 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Mayville Engineering by 54.6% in the fourth quarter. Russell Investments Group Ltd. now owns 92,814 shares of the company’s stock valued at $1,338,000 after buying an additional 32,797 shares in the last quarter. UBS Group AG grew its holdings in shares of Mayville Engineering by 15.4% during the third quarter. UBS Group AG now owns 220,498 shares of the company’s stock worth $2,419,000 after purchasing an additional 29,348 shares during the last quarter. Finally, Avior Wealth Management LLC bought a new position in Mayville Engineering in the fourth quarter worth approximately $150,000. 45.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup raised their price objective on shares of Mayville Engineering from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Monday, April 8th.

Mayville Engineering Stock Down 0.2 %

Shares of MEC stock traded down $0.03 on Tuesday, hitting $13.96. The stock had a trading volume of 2,644 shares, compared to its average volume of 49,967. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 1.88. Mayville Engineering Company, Inc. has a 52-week low of $9.55 and a 52-week high of $15.50. The stock’s 50 day moving average is $13.33 and its 200-day moving average is $13.01. The firm has a market capitalization of $284.23 million, a price-to-earnings ratio of 36.63 and a beta of 0.84.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Mayville Engineering had a return on equity of 6.58% and a net margin of 1.33%. The company had revenue of $148.58 million for the quarter, compared to analyst estimates of $157.08 million. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, research analysts expect that Mayville Engineering Company, Inc. will post 0.66 earnings per share for the current year.

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.