Sheets Smith Wealth Management Buys 1,130 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Sheets Smith Wealth Management increased its stake in Mayville Engineering Company, Inc. (NYSE:MEC) by 3.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,525 shares of the company’s stock after buying an additional 1,130 shares during the period. Sheets Smith Wealth Management’s holdings in Mayville Engineering were worth $574,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE purchased a new stake in shares of Mayville Engineering in the third quarter worth $60,000. Harvest Fund Management Co. Ltd bought a new stake in Mayville Engineering during the 3rd quarter valued at about $62,000. Quantbot Technologies LP bought a new stake in Mayville Engineering during the 3rd quarter valued at about $70,000. Point72 Asset Management L.P. purchased a new position in Mayville Engineering in the third quarter worth about $95,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Mayville Engineering in the second quarter worth approximately $189,000. Institutional investors own 45.44% of the company’s stock.

Insider Activity

In other Mayville Engineering news, CEO Jagadeesh A. Reddy bought 5,903 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was bought at an average cost of $16.72 per share, for a total transaction of $98,698.16. Following the completion of the transaction, the chief executive officer now owns 89,052 shares of the company’s stock, valued at $1,488,949.44. This represents a 7.10 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.40% of the company’s stock.

Mayville Engineering Stock Down 3.4 %

MEC opened at $15.67 on Thursday. Mayville Engineering Company, Inc. has a twelve month low of $11.07 and a twelve month high of $23.02. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average price of $16.26 and a 200-day moving average price of $18.21. The stock has a market capitalization of $323.43 million, a price-to-earnings ratio of 26.56 and a beta of 0.91.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. The firm had revenue of $135.39 million for the quarter, compared to analysts’ expectations of $157.22 million. During the same quarter last year, the company posted $0.21 EPS. Equities research analysts forecast that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Northland Capmk lowered shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th. Northland Securities lowered Mayville Engineering from an “outperform” rating to a “market perform” rating and reduced their target price for the stock from $30.00 to $20.00 in a report on Thursday, November 7th.

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.