Royce & Associates LP Grows Stock Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Royce & Associates LP raised its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 584,297 shares of the company’s stock after acquiring an additional 23,749 shares during the period. Royce & Associates LP’s holdings in Mayville Engineering were worth $9,185,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management increased its holdings in shares of Mayville Engineering by 3.2% in the fourth quarter. Sheets Smith Wealth Management now owns 36,525 shares of the company’s stock valued at $574,000 after purchasing an additional 1,130 shares during the period. Principal Financial Group Inc. increased its stake in Mayville Engineering by 10.8% in the 4th quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock valued at $228,000 after buying an additional 1,417 shares during the period. Charles Schwab Investment Management Inc. raised its position in Mayville Engineering by 5.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 34,252 shares of the company’s stock worth $722,000 after buying an additional 1,760 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Mayville Engineering by 8.3% in the 4th quarter. Ritholtz Wealth Management now owns 25,305 shares of the company’s stock worth $398,000 after acquiring an additional 1,945 shares during the period. Finally, AlphaQuest LLC purchased a new stake in shares of Mayville Engineering in the fourth quarter valued at about $38,000. 45.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Citigroup reduced their price objective on shares of Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 6th.

Mayville Engineering Price Performance

Mayville Engineering stock opened at $14.18 on Wednesday. The company has a market cap of $289.56 million, a P/E ratio of 24.03 and a beta of 0.92. Mayville Engineering Company, Inc. has a one year low of $12.75 and a one year high of $23.02. The business has a fifty day moving average of $15.22 and a two-hundred day moving average of $17.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77.

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.