Riverwater Partners LLC Sells 1,760 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Riverwater Partners LLC cut its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,577 shares of the company’s stock after selling 1,760 shares during the quarter. Riverwater Partners LLC owned approximately 0.10% of Mayville Engineering worth $339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Royce & Associates LP grew its position in shares of Mayville Engineering by 4.2% in the 4th quarter. Royce & Associates LP now owns 584,297 shares of the company’s stock worth $9,185,000 after buying an additional 23,749 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in Mayville Engineering by 10.8% in the fourth quarter. First Eagle Investment Management LLC now owns 332,375 shares of the company’s stock valued at $5,225,000 after acquiring an additional 32,500 shares in the last quarter. Geode Capital Management LLC increased its position in Mayville Engineering by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 277,679 shares of the company’s stock valued at $5,855,000 after purchasing an additional 14,118 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Mayville Engineering by 47.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 252,396 shares of the company’s stock worth $3,968,000 after purchasing an additional 80,905 shares in the last quarter. Finally, JB Capital Partners LP lifted its position in shares of Mayville Engineering by 3.7% in the 4th quarter. JB Capital Partners LP now owns 250,512 shares of the company’s stock worth $3,938,000 after purchasing an additional 8,906 shares during the period. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of MEC stock opened at $12.53 on Friday. The business’s fifty day moving average is $14.75 and its 200 day moving average is $16.81. 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 stock has a market cap of $255.86 million, a price-to-earnings ratio of 21.24 and a beta of 0.89. Mayville Engineering Company, Inc. has a twelve month low of $12.09 and a twelve month high of $23.02.

Wall Street Analysts Forecast Growth

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

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.