Mayville Engineering Company, Inc. (NYSE:MEC) Shares Sold by Aegis Financial Corp

Aegis Financial Corp lowered its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 89.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,949 shares of the company’s stock after selling 191,947 shares during the period. Mayville Engineering comprises 0.4% of Aegis Financial Corp’s portfolio, making the stock its 20th largest holding. Aegis Financial Corp owned 0.11% of Mayville Engineering worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tocqueville Asset Management L.P. raised its position in Mayville Engineering by 0.5% during the first quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company’s stock worth $9,220,000 after acquiring an additional 3,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in Mayville Engineering by 7.9% during the 1st quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock valued at $7,712,000 after buying an additional 39,460 shares during the last quarter. Ancora Advisors LLC increased its position in Mayville Engineering by 0.4% during the first quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock worth $3,558,000 after buying an additional 1,100 shares in the last quarter. JB Capital Partners LP raised its holdings in shares of Mayville Engineering by 14.5% in the fourth quarter. JB Capital Partners LP now owns 170,003 shares of the company’s stock worth $2,451,000 after acquiring an additional 21,525 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Mayville Engineering by 65.6% during the first quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock valued at $2,203,000 after acquiring an additional 60,896 shares during the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.

Mayville Engineering Stock Up 2.8 %

MEC opened at $19.22 on Friday. The stock has a market capitalization of $394.53 million, a price-to-earnings ratio of 45.76 and a beta of 0.94. Mayville Engineering Company, Inc. has a 12 month low of $9.72 and a 12 month high of $19.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. The business has a 50-day moving average of $18.62 and a two-hundred day moving average of $16.08.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. The company had revenue of $163.64 million for the quarter, compared to analyst estimates of $160.38 million. On average, research analysts expect that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current year.

Insider Activity

In other news, EVP Ryan F. Raber sold 21,508 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value of $411,878.20. Following the sale, the executive vice president now owns 97,053 shares in the company, valued at approximately $1,858,564.95. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Northland Securities raised their price target on shares of Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a research note on Friday, June 14th.

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.