Dimensional Fund Advisors LP Boosts Stake in Mayville Engineering Company, Inc. $MEC

Dimensional Fund Advisors LP boosted its stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 5.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 926,216 shares of the company's stock after purchasing an additional 49,041 shares during the period. Dimensional Fund Advisors LP owned about 4.56% of Mayville Engineering worth $16,625,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. EVR Research LP purchased a new stake in Mayville Engineering during the 4th quarter worth approximately $11,326,000. Ameriprise Financial Inc. raised its position in Mayville Engineering by 894.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company's stock valued at $5,424,000 after purchasing an additional 354,514 shares in the last quarter. Congruence Capital LLC acquired a new stake in Mayville Engineering in the 4th quarter valued at about $3,896,000. Blair William & Co. IL boosted its stake in shares of Mayville Engineering by 54.8% in the 4th quarter. Blair William & Co. IL now owns 583,759 shares of the company's stock valued at $10,928,000 after buying an additional 206,549 shares during the period. Finally, Boston Partners purchased a new position in shares of Mayville Engineering in the 3rd quarter valued at about $2,727,000. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

Mayville Engineering Stock Performance

Shares of Mayville Engineering stock opened at $24.09 on Friday. The firm's fifty day simple moving average is $32.11 and its 200-day simple moving average is $24.80. Mayville Engineering Company, Inc. has a 12 month low of $12.25 and a 12 month high of $38.76. The stock has a market capitalization of $493.52 million, a price-to-earnings ratio of -28.67 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.70 and a quick ratio of 0.91.

Mayville Engineering (NYSE:MEC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.12. The company had revenue of $162.98 million for the quarter, compared to the consensus estimate of $150.59 million. Mayville Engineering had a negative net margin of 2.95% and a negative return on equity of 6.63%. As a group, equities analysts forecast that Mayville Engineering Company, Inc. will post -0.08 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Northland Securities set a $40.00 target price on shares of Mayville Engineering in a report on Thursday. DA Davidson raised their price objective on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Citigroup boosted their target price on shares of Mayville Engineering from $33.00 to $43.00 and gave the stock a "buy" rating in a research note on Monday, July 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Mayville Engineering in a report on Friday, July 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Mayville Engineering has an average rating of "Moderate Buy" and an average price target of $35.75.

Insider Buying and Selling at Mayville Engineering

In other news, SVP Sean P. Leuba sold 12,855 shares of the stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $25.44, for a total transaction of $327,031.20. Following the completion of the sale, the senior vice president owned 6,633 shares in the company, valued at approximately $168,743.52. This represents a 65.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ryan F. Raber sold 20,000 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total value of $520,000.00. Following the completion of the transaction, the executive vice president owned 86,970 shares in the company, valued at $2,261,220. This trade represents a 18.70% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 71,785 shares of company stock worth $2,073,629 over the last three months. 5.60% of the stock is currently owned by corporate insiders.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc NYSE: MEC is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.

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