49,738 Shares in Mayville Engineering Company, Inc. (NYSE:MEC) Acquired by First Eagle Investment Management LLC

First Eagle Investment Management LLC purchased a new stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 49,738 shares of the company’s stock, valued at approximately $713,000. First Eagle Investment Management LLC owned about 0.24% of Mayville Engineering as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MEC. Panagora Asset Management Inc. lifted its holdings in shares of Mayville Engineering by 2.7% during the fourth quarter. Panagora Asset Management Inc. now owns 43,113 shares of the company’s stock worth $622,000 after buying an additional 1,132 shares during the last quarter. Sheets Smith Wealth Management raised its stake in Mayville Engineering by 4.9% during the 4th quarter. Sheets Smith Wealth Management now owns 35,890 shares of the company’s stock valued at $518,000 after purchasing an additional 1,665 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Mayville Engineering by 49.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after purchasing an additional 1,799 shares during the period. Empowered Funds LLC grew its position in Mayville Engineering by 8.1% in the 1st quarter. Empowered Funds LLC now owns 76,655 shares of the company’s stock worth $1,098,000 after purchasing an additional 5,775 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Mayville Engineering during the 1st quarter worth about $147,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

MEC stock traded up $0.03 during trading on Friday, hitting $18.56. The company had a trading volume of 46,569 shares, compared to its average volume of 75,030. The company has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $14.40. Mayville Engineering Company, Inc. has a fifty-two week low of $9.72 and a fifty-two week high of $19.14. The company has a market cap of $381.04 million, a P/E ratio of 44.10 and a beta of 0.94. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter. Mayville Engineering had a net margin of 1.40% and a return on equity of 6.01%. The company had revenue of $161.27 million for the quarter, compared to the consensus estimate of $158.60 million. Equities research analysts expect that Mayville Engineering Company, Inc. will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on MEC shares. Citigroup raised their target price on Mayville Engineering from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. William Blair raised shares of Mayville Engineering to a “strong-buy” rating in a report on Wednesday, May 8th. Finally, Northland Securities upped their target price on shares of Mayville Engineering from $20.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, June 14th.

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.