Blair William & Co. IL Increases Position in Mayville Engineering Company, Inc. $MEC

Key Points

• Blair William & Co. IL has significantly increased its stake in Mayville Engineering Company by 304.8% in Q2, now owning 1.83% of the company valued at approximately $5.96 million.
• Several other institutional investors have also raised their positions, with hedge funds and other institutions owning 45.44% of Mayville Engineering’s stock.
• Recent analyst ratings for Mayville Engineering indicate a positive outlook, with a consensus "Buy" rating and an average target price of $20.67.

Blair William & Co. IL increased its stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 304.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 373,448 shares of the company's stock after purchasing an additional 281,198 shares during the quarter. Blair William & Co. IL owned 1.83% of Mayville Engineering worth $5,960,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Royce & Associates LP increased its holdings in shares of Mayville Engineering by 1.2% in the 1st quarter. Royce & Associates LP now owns 591,319 shares of the company's stock valued at $7,941,000 after purchasing an additional 7,022 shares in the last quarter. Ancora Advisors LLC increased its holdings in Mayville Engineering by 0.6% during the 1st quarter. Ancora Advisors LLC now owns 309,580 shares of the company's stock valued at $4,158,000 after acquiring an additional 1,791 shares in the last quarter. American Century Companies Inc. increased its holdings in Mayville Engineering by 14.8% during the 1st quarter. American Century Companies Inc. now owns 252,139 shares of the company's stock valued at $3,386,000 after acquiring an additional 32,426 shares in the last quarter. Bridgeway Capital Management LLC increased its holdings in Mayville Engineering by 3.8% during the 1st quarter. Bridgeway Capital Management LLC now owns 212,875 shares of the company's stock valued at $2,859,000 after acquiring an additional 7,794 shares in the last quarter. Finally, Polar Asset Management Partners Inc. increased its holdings in Mayville Engineering by 35.7% during the 1st quarter. Polar Asset Management Partners Inc. now owns 131,053 shares of the company's stock valued at $1,760,000 after acquiring an additional 34,500 shares in the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.

Insider Activity at Mayville Engineering

In other news, CEO Jagadeesh A. Reddy bought 7,500 shares of Mayville Engineering stock in a transaction dated Thursday, August 7th. The shares were acquired at an average cost of $14.06 per share, with a total value of $105,450.00. Following the completion of the transaction, the chief executive officer owned 146,285 shares in the company, valued at approximately $2,056,767.10. This trade represents a 5.40% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have acquired 9,400 shares of company stock worth $131,942 over the last 90 days. Insiders own 7.20% of the company's stock.

Mayville Engineering Price Performance

MEC opened at $12.96 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.63. Mayville Engineering Company, Inc. has a 1 year low of $11.72 and a 1 year high of $23.02. The company's 50 day simple moving average is $14.24 and its 200 day simple moving average is $14.57. The stock has a market capitalization of $263.35 million, a PE ratio of 15.25 and a beta of 1.19.

Wall Street Analysts Forecast Growth

MEC has been the subject of several recent research reports. DA Davidson initiated coverage on shares of Mayville Engineering in a report on Tuesday, June 17th. They set a "buy" rating and a $23.00 target price for the company. Citigroup restated a "buy" rating and set a $21.00 target price (up from $17.00) on shares of Mayville Engineering in a report on Monday, July 14th. Northland Securities upgraded shares of Mayville Engineering from a "market perform" rating to an "outperform" rating and set a $18.00 target price for the company in a report on Tuesday, August 12th. Northland Capmk upgraded shares of Mayville Engineering from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 12th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Mayville Engineering in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $20.67.

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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