Anchor Capital Advisors LLC Acquires 2,567 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Anchor Capital Advisors LLC boosted its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 2.6% in the fourth quarter, Holdings Channel reports. The firm owned 100,805 shares of the company’s stock after purchasing an additional 2,567 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Mayville Engineering were worth $1,585,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Mayville Engineering during the 4th quarter worth about $40,000. US Bancorp DE acquired a new position in Mayville Engineering during the third quarter valued at approximately $60,000. Harvest Fund Management Co. Ltd bought a new position in Mayville Engineering in the third quarter valued at approximately $62,000. Quantbot Technologies LP acquired a new position in shares of Mayville Engineering during the 3rd quarter worth approximately $70,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $95,000. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Mayville Engineering Stock Performance

MEC opened at $14.86 on Friday. 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 Company, Inc. has a 12-month low of $11.81 and a 12-month high of $23.02. The business has a 50 day moving average of $15.57 and a 200-day moving average of $17.71. The stock has a market cap of $306.83 million, a price-to-earnings ratio of 25.19 and a beta of 0.89.

Analysts Set New Price Targets

Several equities analysts recently weighed in on MEC shares. Northland Capmk cut shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities downgraded shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $30.00 to $20.00 in a research report on Thursday, November 7th.

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.