Mayville Engineering Company, Inc. (NYSE:MEC) Shares Sold by Aegis Financial Corp

Aegis Financial Corp lowered its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 89.7% during the 2nd quarter, Holdings Channel.com reports. The firm owned 21,949 shares of the company’s stock after selling 191,947 shares during the quarter. Mayville Engineering accounts for about 0.4% of Aegis Financial Corp’s investment portfolio, making the stock its 20th biggest position. Aegis Financial Corp’s holdings in Mayville Engineering were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. lifted its holdings in shares of Mayville Engineering by 65.6% in the first quarter. Russell Investments Group Ltd. now owns 153,710 shares of the company’s stock valued at $2,203,000 after buying an additional 60,896 shares during the period. First Eagle Investment Management LLC purchased a new stake in shares of Mayville Engineering in the 1st quarter valued at approximately $713,000. Vanguard Group Inc. boosted its holdings in shares of Mayville Engineering by 7.9% during the first quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock worth $7,712,000 after purchasing an additional 39,460 shares during the period. Pullen Investment Management LLC acquired a new position in Mayville Engineering in the 1st quarter valued at approximately $546,000. Finally, Harbor Capital Advisors Inc. acquired a new position in Mayville Engineering in the 2nd quarter worth about $587,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of NYSE:MEC opened at $19.22 on Friday. Mayville Engineering Company, Inc. has a 1-year low of $9.72 and a 1-year high of $19.94. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $18.62 and its 200-day moving average is $16.08. The firm has a market capitalization of $394.53 million, a PE ratio of 45.76 and a beta of 0.94.

Mayville Engineering (NYSE:MEC) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The firm had revenue of $163.64 million for the quarter, compared to analyst estimates of $160.38 million. Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. Sell-side analysts predict that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Northland Securities lifted their price objective on shares of Mayville Engineering from $20.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, June 14th.

Insider Buying and Selling

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $19.15, for a total value of $411,878.20. Following the transaction, the executive vice president now owns 97,053 shares of the company’s stock, valued at $1,858,564.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 6.40% of the stock is owned by corporate insiders.

Mayville Engineering 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.