CenterBook Partners LP Invests $1.32 Million in Mayville Engineering Company, Inc. (NYSE:MEC)

CenterBook Partners LP bought a new stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 98,553 shares of the company's stock, valued at approximately $1,324,000. CenterBook Partners LP owned approximately 0.48% of Mayville Engineering as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of MEC. AlphaQuest LLC bought a new position in shares of Mayville Engineering in the fourth quarter valued at approximately $38,000. GAMMA Investing LLC lifted its stake in Mayville Engineering by 9,690.3% in the first quarter. GAMMA Investing LLC now owns 3,035 shares of the company's stock valued at $41,000 after purchasing an additional 3,004 shares during the last quarter. Aquatic Capital Management LLC purchased a new position in Mayville Engineering in the fourth quarter valued at approximately $44,000. Oppenheimer Asset Management Inc. purchased a new position in Mayville Engineering in the first quarter valued at approximately $152,000. Finally, Integrated Quantitative Investments LLC purchased a new position in Mayville Engineering in the fourth quarter valued at approximately $177,000. 45.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Citigroup reiterated a "buy" rating and issued a $21.00 price objective (up previously from $17.00) on shares of Mayville Engineering in a research note on Monday. DA Davidson assumed coverage on Mayville Engineering in a research report on Tuesday, June 17th. They set a "buy" rating and a $23.00 target price on the stock.

Mayville Engineering Stock Performance

Shares of NYSE:MEC traded down $0.53 during trading on Friday, hitting $15.31. 72,586 shares of the company were exchanged, compared to its average volume of 114,193. The company has a market cap of $313.24 million, a PE ratio of 14.18 and a beta of 1.15. The stock has a 50 day moving average of $15.72 and a 200 day moving average of $14.81. Mayville Engineering Company, Inc. has a 52-week low of $11.72 and a 52-week high of $23.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.67 and a quick ratio of 0.91.

Mayville Engineering (NYSE:MEC - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.03. The firm had revenue of $135.58 million for the quarter, compared to the consensus estimate of $134.52 million. Mayville Engineering had a return on equity of 9.30% and a net margin of 4.09%. During the same quarter in the prior year, the business posted $0.22 earnings per share. As a group, equities research analysts predict that Mayville Engineering Company, Inc. will post 0.31 EPS for the current year.

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.