Riverwater Partners LLC Lowers Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Riverwater Partners LLC decreased its holdings in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 34.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,337 shares of the company’s stock after selling 12,155 shares during the quarter. Riverwater Partners LLC owned 0.11% of Mayville Engineering worth $477,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MEC. Tocqueville Asset Management L.P. increased its position in Mayville Engineering by 0.5% during the 1st quarter. Tocqueville Asset Management L.P. now owns 643,400 shares of the company’s stock valued at $9,220,000 after purchasing an additional 3,000 shares during the period. Vanguard Group Inc. raised its stake in Mayville Engineering by 7.9% in the first quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock worth $7,712,000 after buying an additional 39,460 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Mayville Engineering by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock worth $8,618,000 after buying an additional 77,486 shares during the period. First Eagle Investment Management LLC boosted its position in Mayville Engineering by 404.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock valued at $4,178,000 after acquiring an additional 201,047 shares in the last quarter. Finally, Ancora Advisors LLC grew its holdings in shares of Mayville Engineering by 0.4% during the 1st quarter. Ancora Advisors LLC now owns 248,280 shares of the company’s stock worth $3,558,000 after acquiring an additional 1,100 shares during the period. 45.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Northland Securities restated an “outperform” rating and issued a $30.00 target price on shares of Mayville Engineering in a research note on Tuesday, October 8th.

Insider Transactions at Mayville Engineering

In related news, EVP Ryan F. Raber sold 21,508 shares of the company’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 owns 97,053 shares in the company, valued at $1,858,564.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.40% of the company’s stock.

Mayville Engineering Trading Down 2.8 %

Shares of NYSE MEC opened at $19.78 on Thursday. The stock has a market cap of $406.02 million, a P/E ratio of 47.10 and a beta of 0.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. Mayville Engineering Company, Inc. has a 1 year low of $9.72 and a 1 year high of $22.07. The firm has a 50-day moving average of $19.79 and a 200 day moving average of $17.46.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. Mayville Engineering had a return on equity of 5.81% and a net margin of 1.69%. The firm had revenue of $163.64 million for the quarter, compared to analysts’ expectations of $160.38 million. As a group, sell-side analysts expect that Mayville Engineering Company, Inc. will post 0.68 EPS for the current fiscal year.

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.