Allspring Global Investments Holdings LLC Lowers Stock Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Allspring Global Investments Holdings LLC lessened its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,439,596 shares of the company’s stock after selling 35,275 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 11.82% of Mayville Engineering worth $37,911,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. R Squared Ltd acquired a new position in Mayville Engineering in the 4th quarter valued at about $40,000. US Bancorp DE acquired a new stake in Mayville Engineering during the 3rd quarter worth approximately $60,000. Harvest Fund Management Co. Ltd purchased a new position in Mayville Engineering in the 3rd quarter valued at approximately $62,000. Quantbot Technologies LP acquired a new position in shares of Mayville Engineering in the third quarter worth $70,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Mayville Engineering during the third quarter worth $95,000. Institutional investors and hedge funds own 45.44% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mayville Engineering Stock Up 1.4 %

Shares of NYSE:MEC opened at $15.50 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.77 and a quick ratio of 0.91. The stock has a market cap of $319.92 million, a P/E ratio of 26.27 and a beta of 0.89. Mayville Engineering Company, Inc. has a 1-year low of $11.07 and a 1-year high of $23.02. The firm has a fifty day moving average price of $15.92 and a 200 day moving average price of $17.95.

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.