Nokomis Capital L.L.C. Raises Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Nokomis Capital L.L.C. increased its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 270.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 449,792 shares of the company’s stock after acquiring an additional 328,223 shares during the period. Mayville Engineering comprises 2.5% of Nokomis Capital L.L.C.’s holdings, making the stock its 17th largest position. Nokomis Capital L.L.C.’s holdings in Mayville Engineering were worth $7,071,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in Mayville Engineering in the 4th quarter worth approximately $477,000. Lazard Asset Management LLC lifted its stake in shares of Mayville Engineering by 90.2% in the 4th quarter. Lazard Asset Management LLC now owns 20,864 shares of the company’s stock valued at $327,000 after purchasing an additional 9,892 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Mayville Engineering by 10.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 135,193 shares of the company’s stock worth $2,125,000 after buying an additional 13,138 shares in the last quarter. Granahan Investment Management LLC grew its position in Mayville Engineering by 71.2% during the fourth quarter. Granahan Investment Management LLC now owns 578,967 shares of the company’s stock valued at $9,101,000 after buying an additional 240,752 shares during the period. Finally, Expect Equity LLC purchased a new position in Mayville Engineering in the fourth quarter valued at $1,175,000. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

Mayville Engineering Stock Performance

Shares of MEC stock opened at $15.38 on Wednesday. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Mayville Engineering Company, Inc. has a 12-month low of $11.72 and a 12-month high of $23.02. The business’s 50 day moving average is $13.34 and its two-hundred day moving average is $15.31. The company has a market capitalization of $314.69 million, a P/E ratio of 26.07 and a beta of 1.15.

Mayville Engineering (NYSE:MEC) last announced its earnings results on Tuesday, May 6th. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Mayville Engineering had a return on equity of 5.20% and a net margin of 2.01%. The firm had revenue of $135.58 million for the quarter, compared to analyst estimates of $134.52 million. During the same quarter last year, the firm posted $0.22 EPS. Analysts expect that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Citigroup decreased their price objective on shares of Mayville Engineering from $18.00 to $16.00 and set a “buy” rating for the company in a research report on Monday, April 14th.

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.