Squarepoint Ops LLC bought a new stake in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,146 shares of the company's stock, valued at approximately $427,000. Squarepoint Ops LLC owned approximately 0.13% of Mayville Engineering as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also modified their holdings of the stock. AlphaQuest LLC acquired a new position in Mayville Engineering in the 4th quarter worth $38,000. Aquatic Capital Management LLC acquired a new position in shares of Mayville Engineering in the fourth quarter worth about $44,000. Integrated Quantitative Investments LLC purchased a new position in Mayville Engineering in the fourth quarter valued at about $177,000. Deutsche Bank AG boosted its holdings in Mayville Engineering by 94.7% in the fourth quarter. Deutsche Bank AG now owns 12,122 shares of the company's stock valued at $191,000 after purchasing an additional 5,897 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Mayville Engineering by 10.8% during the 4th quarter. Principal Financial Group Inc. now owns 14,529 shares of the company's stock valued at $228,000 after purchasing an additional 1,417 shares in the last quarter. 45.44% of the stock is currently owned by hedge funds and other institutional investors.
Mayville Engineering Stock Up 0.1%
MEC stock traded up $0.01 during mid-day trading on Friday, hitting $15.03. 90,327 shares of the company were exchanged, compared to its average volume of 114,393. The firm has a fifty day simple moving average of $13.85 and a 200 day simple moving average of $14.93. The company has a market capitalization of $307.55 million, a PE ratio of 25.48 and a beta of 1.18. Mayville Engineering Company, Inc. has a twelve month low of $11.72 and a twelve month high of $23.02. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.
Mayville Engineering (NYSE:MEC - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.04 earnings per share 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 analyst estimates of $134.52 million. During the same period in the previous year, the company earned $0.22 earnings per share. On average, research analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Separately, Citigroup cut their target price on Mayville Engineering from $18.00 to $16.00 and set a "buy" rating on the stock in a research report on Monday, April 14th.
Get Our Latest Stock Analysis on Mayville Engineering
Mayville Engineering Company Profile
(
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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