Polar Asset Management Partners Inc. Takes Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Polar Asset Management Partners Inc. acquired a new position in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 96,553 shares of the company's stock, valued at approximately $1,518,000. Polar Asset Management Partners Inc. owned 0.47% of Mayville Engineering at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of MEC. Squarepoint Ops LLC bought a new position in shares of Mayville Engineering during the 4th quarter worth approximately $427,000. Nokomis Capital L.L.C. lifted its position in shares of Mayville Engineering by 270.0% during the 4th quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company's stock worth $7,071,000 after buying an additional 328,223 shares during the period. Millennium Management LLC bought a new position in shares of Mayville Engineering during the 4th quarter worth approximately $477,000. Lazard Asset Management LLC lifted its position in shares of Mayville Engineering by 90.2% during the 4th quarter. Lazard Asset Management LLC now owns 20,864 shares of the company's stock worth $327,000 after buying an additional 9,892 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Mayville Engineering by 10.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 135,193 shares of the company's stock worth $2,125,000 after buying an additional 13,138 shares during the period. Institutional investors own 45.44% of the company's stock.

Mayville Engineering Price Performance

Shares of Mayville Engineering stock traded down $0.15 during midday trading on Friday, hitting $15.78. 113,457 shares of the company were exchanged, compared to its average volume of 113,952. The firm has a 50 day simple moving average of $13.68 and a 200-day simple moving average of $14.98. 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 cap of $322.87 million, a P/E ratio of 26.75 and a beta of 1.15.

Mayville Engineering (NYSE:MEC - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $134.52 million. During the same quarter in the previous year, the company posted $0.22 EPS. Research analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Citigroup cut their target price on Mayville Engineering from $18.00 to $16.00 and set a "buy" rating for the company in a research report on Monday, April 14th.

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.