CHICAGO TRUST Co NA Makes New Investment in Mayville Engineering Company, Inc. $MEC

CHICAGO TRUST Co NA bought a new position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) in the second quarter, HoldingsChannel.com reports. The firm bought 10,325 shares of the company’s stock, valued at approximately $165,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Mayville Engineering by 9,690.3% during the 1st quarter. GAMMA Investing LLC now owns 3,035 shares of the company’s stock worth $41,000 after acquiring an additional 3,004 shares during the last quarter. AlphaQuest LLC raised its position in shares of Mayville Engineering by 222.8% during the first quarter. AlphaQuest LLC now owns 7,879 shares of the company’s stock valued at $106,000 after buying an additional 5,438 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Mayville Engineering during the first quarter valued at about $152,000. Victory Capital Management Inc. acquired a new position in shares of Mayville Engineering during the first quarter valued at about $180,000. Finally, Deutsche Bank AG raised its position in shares of Mayville Engineering by 94.7% during the fourth quarter. Deutsche Bank AG now owns 12,122 shares of the company’s stock valued at $191,000 after buying an additional 5,897 shares during the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

Mayville Engineering Stock Performance

NYSE MEC opened at $13.64 on Thursday. The stock has a market cap of $277.16 million, a P/E ratio of 16.05 and a beta of 1.16. The company’s 50-day simple moving average is $14.88 and its 200 day simple moving average is $14.63. Mayville Engineering Company, Inc. has a twelve month low of $11.72 and a twelve month high of $23.02. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Northland Securities raised shares of Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price objective for the company in a research report on Tuesday, August 12th. DA Davidson assumed coverage on shares of Mayville Engineering in a research report on Tuesday, June 17th. They set a “buy” rating and a $23.00 price objective for the company. Citigroup reaffirmed a “buy” rating and set a $21.00 price objective (up previously from $17.00) on shares of Mayville Engineering in a research report on Monday, July 14th. Finally, Northland Capmk raised shares of Mayville Engineering from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, Mayville Engineering currently has a consensus rating of “Buy” and an average price target of $20.67.

Insiders Place Their Bets

In other Mayville Engineering news, CEO Jagadeesh A. Reddy bought 7,500 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were acquired at an average price of $14.06 per share, with a total value of $105,450.00. Following the completion of the purchase, the chief executive officer directly owned 146,285 shares in the company, valued at $2,056,767.10. The trade was a 5.40% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders have bought a total of 9,400 shares of company stock valued at $131,942 over the last quarter. Insiders own 7.20% of the company’s stock.

Mayville Engineering 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.