Mayville Engineering Company, Inc. (NYSE:MEC) Stock Holdings Boosted by Granahan Investment Management LLC

Granahan Investment Management LLC lifted its position in Mayville Engineering Company, Inc. (NYSE:MEC - Free Report) by 71.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 578,967 shares of the company's stock after buying an additional 240,752 shares during the period. Granahan Investment Management LLC owned approximately 2.81% of Mayville Engineering worth $9,101,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Jane Street Group LLC raised its position in Mayville Engineering by 25.7% in the third quarter. Jane Street Group LLC now owns 14,235 shares of the company's stock worth $300,000 after acquiring an additional 2,909 shares in the last quarter. Barclays PLC grew its stake in shares of Mayville Engineering by 44.2% in the 3rd quarter. Barclays PLC now owns 37,486 shares of the company's stock worth $790,000 after purchasing an additional 11,489 shares during the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Mayville Engineering by 4.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 82,413 shares of the company's stock worth $1,296,000 after purchasing an additional 3,291 shares in the last quarter. Ritholtz Wealth Management lifted its stake in Mayville Engineering by 8.3% during the fourth quarter. Ritholtz Wealth Management now owns 25,305 shares of the company's stock valued at $398,000 after purchasing an additional 1,945 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its holdings in Mayville Engineering by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 36,525 shares of the company's stock worth $574,000 after buying an additional 1,130 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Citigroup dropped 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.

Mayville Engineering Trading Up 3.2 %

NYSE:MEC opened at $14.82 on Friday. The stock has a fifty day simple moving average of $13.29 and a 200 day simple moving average of $15.41. The firm has a market capitalization of $302.62 million, a price-to-earnings ratio of 25.12 and a beta of 1.15. Mayville Engineering Company, Inc. has a 1-year low of $11.72 and a 1-year high of $23.02. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47.

Mayville Engineering (NYSE:MEC - Get Free Report) last announced its 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 2.01% and a return on equity of 5.20%. The company had revenue of $135.58 million during the quarter, compared to analysts' expectations of $134.52 million. During the same period last year, the company posted $0.22 earnings per share. Sell-side analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Mayville Engineering Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.