Anchor Capital Advisors LLC increased its holdings in Mayville Engineering Company, Inc. (NYSE:MEC – Free Report) by 23.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 118,325 shares of the company’s stock after purchasing an additional 22,576 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Mayville Engineering were worth $1,696,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of MEC. BNP Paribas Financial Markets grew its holdings in shares of Mayville Engineering by 49.6% during the first quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after buying an additional 1,799 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in Mayville Engineering during the first quarter valued at $147,000. Avior Wealth Management LLC acquired a new position in Mayville Engineering during the fourth quarter valued at $150,000. Sheets Smith Wealth Management lifted its position in Mayville Engineering by 4.9% during the fourth 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 period. Finally, Pullen Investment Management LLC acquired a new position in Mayville Engineering during the first quarter valued at $546,000. Institutional investors own 45.44% of the company’s stock.
Mayville Engineering Stock Up 5.0 %
Shares of NYSE MEC traded up $0.87 during mid-day trading on Monday, reaching $18.30. The company had a trading volume of 66,338 shares, compared to its average volume of 72,335. The company has a current ratio of 1.84, a quick ratio of 1.00 and a debt-to-equity ratio of 0.60. The firm has a 50 day simple moving average of $16.11 and a two-hundred day simple moving average of $14.29. The stock has a market cap of $375.64 million, a P/E ratio of 41.50 and a beta of 0.94. Mayville Engineering Company, Inc. has a 52-week low of $9.72 and a 52-week high of $18.36.
Analysts Set New Price Targets
MEC has been the subject of a number of analyst reports. William Blair upgraded shares of Mayville Engineering to a “strong-buy” rating in a research report on Wednesday, May 8th. Citigroup upped their price objective 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. Finally, Northland Securities increased their price target 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.
Get Our Latest Stock Analysis on MEC
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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