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SeaBridge Investment Advisors LLC Invests $220,000 in Mayville Engineering Company, Inc. (NYSE:MEC)

Mayville Engineering logo with Construction background

SeaBridge Investment Advisors LLC purchased a new position in shares of Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,345 shares of the company's stock, valued at approximately $220,000. SeaBridge Investment Advisors LLC owned about 0.08% of Mayville Engineering as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MEC. Dimensional Fund Advisors LP grew its stake in 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 acquiring an additional 85,086 shares in the last quarter. Royce & Associates LP grew its stake in Mayville Engineering by 4.2% during the 4th 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 in the last quarter. Granahan Investment Management LLC grew its stake in Mayville Engineering by 71.2% during the 4th quarter. Granahan Investment Management LLC now owns 578,967 shares of the company's stock valued at $9,101,000 after acquiring an additional 240,752 shares in the last quarter. Nokomis Capital L.L.C. grew its stake in Mayville Engineering by 270.0% during the 4th quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company's stock valued at $7,071,000 after acquiring an additional 328,223 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in Mayville Engineering by 24.6% during the 4th quarter. Ancora Advisors LLC now owns 307,789 shares of the company's stock valued at $4,838,000 after acquiring an additional 60,786 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company's stock.

Mayville Engineering Stock Down 3.3%

Shares of MEC traded down $0.53 during midday trading on Friday, reaching $15.31. The stock had a trading volume of 72,586 shares, compared to its average volume of 114,066. Mayville Engineering Company, Inc. has a 1-year low of $11.72 and a 1-year high of $23.02. The company's fifty day simple moving average is $15.73 and its two-hundred day simple moving average is $14.80. The company has a market cap of $313.24 million, a price-to-earnings ratio of 14.18 and a beta of 1.15. 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 announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.01 by $0.03. Mayville Engineering had a net margin of 4.09% and a return on equity of 9.30%. The firm had revenue of $135.58 million for the quarter, compared to analyst estimates of $134.52 million. During the same period last year, the business earned $0.22 EPS. Equities research analysts expect that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. DA Davidson started coverage on shares of Mayville Engineering in a research note on Tuesday, June 17th. They issued a "buy" rating and a $23.00 price target for the company. Citigroup reaffirmed a "buy" rating and set a $21.00 price objective (up previously from $17.00) on shares of Mayville Engineering in a research report on Monday, July 14th.

View Our Latest Research Report on MEC

About Mayville Engineering

(Free Report)

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.

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Institutional Ownership by Quarter for Mayville Engineering (NYSE:MEC)

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