Mayville Engineering (NYSE:MEC – Free Report) had its price objective raised by Northland Securities from $20.00 to $30.00 in a research note released on Friday morning, Benzinga reports. Northland Securities currently has an outperform rating on the stock.
MEC has been the subject of a number of other research reports. William Blair raised Mayville Engineering to a strong-buy rating in a research note on Wednesday, May 8th. Citigroup lifted their target price on shares of Mayville Engineering from $17.00 to $18.00 and gave the company a buy rating in a research note on Monday, April 8th.
Read Our Latest Research Report on MEC
Mayville Engineering Stock Performance
Mayville Engineering (NYSE:MEC – Get Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter. The business had revenue of $161.27 million during the quarter, compared to analyst estimates of $158.60 million. Mayville Engineering had a return on equity of 6.01% and a net margin of 1.40%. As a group, equities analysts anticipate that Mayville Engineering will post 0.68 EPS for the current year.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. grew its holdings in Mayville Engineering by 65.6% in the first quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock worth $2,203,000 after purchasing an additional 60,896 shares during the period. Ancora Advisors LLC grew its stake in shares of Mayville Engineering by 53.9% in the 3rd quarter. Ancora Advisors LLC now owns 164,877 shares of the company’s stock worth $1,809,000 after buying an additional 57,764 shares during the last quarter. First Eagle Investment Management LLC bought a new position in Mayville Engineering during the 1st quarter valued at approximately $713,000. Anchor Capital Advisors LLC raised its stake in Mayville Engineering by 76.4% during the fourth quarter. Anchor Capital Advisors LLC now owns 95,749 shares of the company’s stock valued at $1,381,000 after buying an additional 41,471 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Mayville Engineering by 7.9% in the first 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 in the last quarter. 45.44% of the stock is currently owned by institutional investors.
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.
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