Rachele Marie Lehr Purchases 1,400 Shares of Mayville Engineering Company, Inc. (NYSE:MEC) Stock

Key Points

• Rachele Marie Lehr, CFO of Mayville Engineering Company, purchased 1,400 shares at an average price of $14.08 per share, increasing her total ownership by 7.23%.
• Analysts have given Mayville Engineering a buy rating, with Citigroup setting a price target of $21.00 and DA Davidson setting a target of $23.00.
• Institutional investors now hold 45.44% of Mayville Engineering's stock, with several hedge funds significantly increasing their positions recently.

Mayville Engineering Company, Inc. (NYSE:MEC - Get Free Report) CFO Rachele Marie Lehr bought 1,400 shares of the stock in a transaction dated Friday, August 8th. The stock was purchased at an average price of $14.08 per share, with a total value of $19,712.00. Following the purchase, the chief financial officer owned 20,761 shares in the company, valued at $292,314.88. This trade represents a 7.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Mayville Engineering Stock Performance

Shares of NYSE:MEC traded down $0.14 during midday trading on Monday, reaching $13.54. 207,283 shares of the company's stock traded hands, compared to its average volume of 112,435. The company has a market cap of $275.05 million, a price-to-earnings ratio of 15.92 and a beta of 1.19. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.86 and a current ratio of 1.63. Mayville Engineering Company, Inc. has a one year low of $11.72 and a one year high of $23.02. The stock has a 50 day moving average of $15.79 and a 200 day moving average of $14.82.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on 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. DA Davidson assumed coverage on Mayville Engineering in a research report on Tuesday, June 17th. They set a "buy" rating and a $23.00 price objective for the company.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEC. Aquatic Capital Management LLC purchased a new stake in shares of Mayville Engineering during the 4th quarter valued at about $44,000. GAMMA Investing LLC lifted its position in Mayville Engineering by 9,690.3% during the first quarter. GAMMA Investing LLC now owns 3,035 shares of the company's stock valued at $41,000 after purchasing an additional 3,004 shares in the last quarter. AlphaQuest LLC lifted its position in Mayville Engineering by 222.8% during the first quarter. AlphaQuest LLC now owns 7,879 shares of the company's stock valued at $106,000 after purchasing an additional 5,438 shares in the last quarter. CHICAGO TRUST Co NA purchased a new position in Mayville Engineering during the second quarter valued at $165,000. Finally, Oppenheimer Asset Management Inc. purchased a new position in Mayville Engineering during the first quarter valued at $152,000. Institutional investors own 45.44% of the company's stock.

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.

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