Sei Investments Co. Has $2.21 Million Stock Holdings in Mayville Engineering Company, Inc. $MEC

Sei Investments Co. grew its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 47.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 122,878 shares of the company’s stock after buying an additional 39,309 shares during the quarter. Sei Investments Co. owned approximately 0.60% of Mayville Engineering worth $2,206,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Raymond James Financial Inc. increased its holdings in Mayville Engineering by 3.0% in the 3rd quarter. Raymond James Financial Inc. now owns 25,187 shares of the company’s stock worth $347,000 after purchasing an additional 740 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Mayville Engineering by 6.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 13,792 shares of the company’s stock valued at $245,000 after buying an additional 800 shares during the period. JPMorgan Chase & Co. raised its holdings in Mayville Engineering by 20.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,936 shares of the company’s stock valued at $127,000 after buying an additional 1,359 shares during the last quarter. Clearstead Advisors LLC raised its holdings in Mayville Engineering by 194.9% in the 4th quarter. Clearstead Advisors LLC now owns 2,094 shares of the company’s stock valued at $39,000 after buying an additional 1,384 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its position in Mayville Engineering by 109.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,751 shares of the company’s stock worth $38,000 after buying an additional 1,435 shares during the period. 45.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MEC. DA Davidson upped their price target on shares of Mayville Engineering from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, July 22nd. Citigroup lifted their price target on shares of Mayville Engineering from $33.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Northland Securities set a $40.00 price objective on shares of Mayville Engineering in a research note on Thursday. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Mayville Engineering in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $35.75.

Insider Activity

In related news, EVP Ryan F. Raber sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $26.00, for a total transaction of $520,000.00. Following the sale, the executive vice president owned 86,970 shares in the company, valued at $2,261,220. This represents a 18.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jagadeesh A. Reddy sold 17,942 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $30.00, for a total value of $538,260.00. Following the sale, the chief executive officer directly owned 140,445 shares of the company’s stock, valued at $4,213,350. This represents a 11.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 71,785 shares of company stock worth $2,073,629 in the last three months. Corporate insiders own 5.60% of the company’s stock.

Mayville Engineering Stock Down 3.0%

Mayville Engineering stock opened at $24.09 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 1.70. Mayville Engineering Company, Inc. has a 52-week low of $12.25 and a 52-week high of $38.76. The firm has a 50 day moving average price of $32.11 and a two-hundred day moving average price of $24.80. The firm has a market cap of $493.62 million, a price-to-earnings ratio of -28.67 and a beta of 1.27.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.12. Mayville Engineering had a negative net margin of 2.95% and a negative return on equity of 6.63%. The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $150.59 million. Equities analysts predict that Mayville Engineering Company, Inc. will post -0.08 EPS for the current year.

Mayville Engineering Company Profile

Mayville Engineering Company, Inc (NYSE:MEC) is a U.S.-based industrial manufacturer specializing in engineered metal castings and precision machining services. Headquartered in Mayville, Wisconsin, the company leverages over a century of casting experience to design, produce and finish complex metal components for a broad range of heavy-duty applications.

The company operates two principal business segments: iron castings and steel castings. Its iron segment utilizes green sand and lost-foam molding processes to produce gray and ductile iron components, while the steel segment employs electric-arc furnace technology to manufacture high-strength steel castings.