Royce & Associates LP Sells 99,624 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Royce & Associates LP cut its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 15.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 560,548 shares of the company’s stock after selling 99,624 shares during the period. Royce & Associates LP’s holdings in Mayville Engineering were worth $11,816,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. US Bancorp DE acquired a new position in Mayville Engineering during the third quarter worth $60,000. Lazard Asset Management LLC acquired a new position in Mayville Engineering in the first quarter worth $73,000. BNP Paribas Financial Markets increased its stake in shares of Mayville Engineering by 49.6% in the first quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after buying an additional 1,799 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of Mayville Engineering in the first quarter valued at about $147,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Mayville Engineering during the 2nd quarter worth about $189,000. 45.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Mayville Engineering

In other Mayville Engineering news, EVP Ryan F. Raber sold 21,508 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value of $411,878.20. Following the transaction, the executive vice president now directly owns 97,053 shares in the company, valued at $1,858,564.95. The trade was a 18.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jagadeesh A. Reddy bought 5,903 shares of Mayville Engineering stock in a transaction dated Thursday, November 7th. The stock was acquired at an average price of $16.72 per share, with a total value of $98,698.16. Following the purchase, the chief executive officer now directly owns 89,052 shares of the company’s stock, valued at approximately $1,488,949.44. This represents a 7.10 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 6.40% of the stock is currently owned by insiders.

Mayville Engineering Price Performance

Shares of Mayville Engineering stock opened at $16.81 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 twelve month low of $11.07 and a twelve month high of $23.02. The company has a 50-day simple moving average of $19.75 and a two-hundred day simple moving average of $18.06. The stock has a market capitalization of $346.96 million, a price-to-earnings ratio of 28.49 and a beta of 0.97.

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

Analyst Ratings Changes

Several research firms have recently commented on MEC. 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 Mayville Engineering from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $30.00 to $20.00 in a research 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.