Mayville Engineering Company, Inc. (NYSE:MEC) SVP Acquires $14,180.00 in Stock

Mayville Engineering Company, Inc. (NYSE:MEC) SVP Sean P. Leuba purchased 1,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $14.18 per share, for a total transaction of $14,180.00. Following the completion of the purchase, the senior vice president now directly owns 2,000 shares in the company, valued at $28,360. This represents a 100.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Mayville Engineering Stock Performance

Shares of NYSE MEC traded up $0.12 during midday trading on Friday, reaching $14.33. 184,795 shares of the company were exchanged, compared to its average volume of 84,700. The stock has a market cap of $295.81 million, a P/E ratio of 24.29 and a beta of 0.92. Mayville Engineering Company, Inc. has a 1 year low of $12.47 and a 1 year high of $23.02. The stock has a fifty day simple moving average of $15.42 and a 200 day simple moving average of $17.56. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47.

Wall Street Analyst Weigh In

MEC has been the topic of several research reports. Northland Securities lowered Mayville Engineering from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $30.00 to $20.00 in a report on Thursday, November 7th. Citigroup dropped their price target on Mayville Engineering from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Northland Capmk cut Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Nokomis Capital L.L.C. lifted its holdings in shares of Mayville Engineering by 270.0% during the fourth quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company’s stock worth $7,071,000 after purchasing an additional 328,223 shares during the period. Granahan Investment Management LLC lifted its stake in shares of Mayville Engineering by 71.2% in the 4th quarter. Granahan Investment Management LLC now owns 578,967 shares of the company’s stock worth $9,101,000 after acquiring an additional 240,752 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in shares of Mayville Engineering in the fourth quarter valued at about $1,518,000. Dimensional Fund Advisors LP boosted its holdings in shares of Mayville Engineering by 13.7% in the fourth 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. Finally, American Century Companies Inc. increased its stake in shares of Mayville Engineering by 61.0% during the fourth quarter. American Century Companies Inc. now owns 219,713 shares of the company’s stock worth $3,454,000 after acquiring an additional 83,213 shares during the period. Institutional investors and hedge funds own 45.44% of the company’s stock.

About Mayville Engineering

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.