BNP Paribas Financial Markets Reduces Stock Position in Mayville Engineering Company, Inc. (NYSE:MEC)

BNP Paribas Financial Markets trimmed its position in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 70.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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.

A number of other large investors also recently modified their holdings of the company. AlphaQuest LLC purchased a new stake in shares of Mayville Engineering in the 4th quarter valued at $38,000. R Squared Ltd purchased a new stake in Mayville Engineering during the 4th quarter valued at $40,000. Aquatic Capital Management LLC bought a new stake in Mayville Engineering in the 4th quarter worth $44,000. Integrated Quantitative Investments LLC purchased a new position in shares of Mayville Engineering in the fourth quarter valued at about $177,000. Finally, Principal Financial Group Inc. raised its stake in shares of Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock valued at $228,000 after acquiring an additional 1,417 shares during the last quarter. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Trading Down 1.8%

Mayville Engineering stock traded down $0.29 during mid-day trading on Wednesday, reaching $15.64. 10,003 shares of the company traded hands, compared to its average volume of 113,657. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. Mayville Engineering Company, Inc. has a 52-week low of $11.72 and a 52-week high of $23.02. The firm has a market capitalization of $320.01 million, a price-to-earnings ratio of 26.67 and a beta of 1.15. The firm's 50 day moving average price is $13.75 and its 200 day moving average price is $14.96.

Mayville Engineering (NYSE:MEC - Get Free Report) last announced 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. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. The firm had revenue of $135.58 million during the quarter, compared to analyst estimates of $134.52 million. During the same quarter in the prior year, the company earned $0.22 EPS. On average, analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup reduced their price target on 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.