BNP Paribas Financial Markets Sells 21,016 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

BNP Paribas Financial Markets lessened its holdings in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 70.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,672 shares of the company's stock after selling 21,016 shares during the quarter. BNP Paribas Financial Markets' holdings in Mayville Engineering were worth $136,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in shares of Mayville Engineering by 13.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company's stock valued at $11,077,000 after buying an additional 85,086 shares in the last quarter. Royce & Associates LP increased its stake in Mayville Engineering by 4.2% in the fourth quarter. Royce & Associates LP now owns 584,297 shares of the company's stock valued at $9,185,000 after acquiring an additional 23,749 shares during the last quarter. First Eagle Investment Management LLC raised its position in Mayville Engineering by 10.8% during the fourth quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company's stock valued at $5,225,000 after purchasing an additional 32,500 shares in the last quarter. Ancora Advisors LLC lifted its stake in Mayville Engineering by 24.6% during the fourth quarter. Ancora Advisors LLC now owns 307,789 shares of the company's stock worth $4,838,000 after purchasing an additional 60,786 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Mayville Engineering by 47.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 252,396 shares of the company's stock worth $3,968,000 after purchasing an additional 80,905 shares during the last quarter. Hedge funds and other institutional investors own 45.44% of the company's stock.

Mayville Engineering Trading Down 1.8%

Shares of MEC stock traded down $0.28 during mid-day trading on Wednesday, reaching $15.65. The stock had a trading volume of 125,808 shares, compared to its average volume of 114,272. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. The stock's 50-day moving average price is $13.79 and its two-hundred day moving average price is $14.97. The firm has a market capitalization of $320.21 million, a PE ratio of 26.53 and a beta of 1.15. Mayville Engineering Company, Inc. has a 52-week low of $11.72 and a 52-week high of $23.02.

Mayville Engineering (NYSE:MEC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.03. The company 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 5.20% and a net margin of 2.01%. During the same quarter in the previous year, the business earned $0.22 EPS. Equities analysts expect that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their target price on shares of Mayville Engineering from $18.00 to $16.00 and set a "buy" rating on the stock in a report on Monday, April 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.