Anchor Capital Advisors LLC Has $1.38 Million Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Anchor Capital Advisors LLC boosted its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 76.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 95,749 shares of the company’s stock after buying an additional 41,471 shares during the quarter. Anchor Capital Advisors LLC’s holdings in Mayville Engineering were worth $1,381,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tocqueville Asset Management L.P. grew its stake in shares of Mayville Engineering by 10.6% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 649,710 shares of the company’s stock worth $7,127,000 after acquiring an additional 62,500 shares during the period. Ancora Advisors LLC raised its stake in shares of Mayville Engineering by 53.9% in the third quarter. Ancora Advisors LLC now owns 164,877 shares of the company’s stock worth $1,809,000 after purchasing an additional 57,764 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of Mayville Engineering by 54.6% in the 4th quarter. Russell Investments Group Ltd. now owns 92,814 shares of the company’s stock worth $1,338,000 after acquiring an additional 32,797 shares during the last quarter. UBS Group AG increased its holdings in Mayville Engineering by 15.4% in the third quarter. UBS Group AG now owns 220,498 shares of the company’s stock valued at $2,419,000 after buying an additional 29,348 shares during the last quarter. Finally, Avior Wealth Management LLC purchased a new stake in Mayville Engineering during the fourth quarter worth $150,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of MEC traded down $0.03 during mid-day trading on Tuesday, reaching $13.96. The stock had a trading volume of 2,644 shares, compared to its average volume of 49,967. The business has a fifty day moving average of $13.33 and a 200 day moving average of $13.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.93 and a current ratio of 1.88. Mayville Engineering Company, Inc. has a 12 month low of $9.55 and a 12 month high of $15.50. The firm has a market cap of $284.23 million, a price-to-earnings ratio of 36.63 and a beta of 0.84.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.05). Mayville Engineering had a return on equity of 6.58% and a net margin of 1.33%. The business had revenue of $148.58 million during the quarter, compared to analyst estimates of $157.08 million. During the same quarter last year, the firm earned $0.22 EPS. Equities analysts predict that Mayville Engineering Company, Inc. will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Citigroup lifted their price objective on shares of Mayville Engineering from $17.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, April 8th.

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.