CenterBook Partners LP Has $4.79 Million Stake in Mayville Engineering Company, Inc. $MEC

CenterBook Partners LP lifted its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 44.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 255,791 shares of the company’s stock after buying an additional 78,132 shares during the quarter. CenterBook Partners LP’s holdings in Mayville Engineering were worth $4,788,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of MEC. Ameriprise Financial Inc. grew its position in shares of Mayville Engineering by 894.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 394,161 shares of the company’s stock worth $5,424,000 after buying an additional 354,514 shares during the period. 22NW LP grew its position in shares of Mayville Engineering by 157.2% during the 3rd quarter. 22NW LP now owns 399,890 shares of the company’s stock worth $5,502,000 after buying an additional 244,440 shares during the period. Boston Partners acquired a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $2,727,000. Roubaix Capital LLC grew its position in Mayville Engineering by 110.3% in the 3rd quarter. Roubaix Capital LLC now owns 212,688 shares of the company’s stock valued at $2,927,000 after purchasing an additional 111,550 shares during the period. Finally, Royce & Associates LP grew its position in Mayville Engineering by 10.2% in the 4th quarter. Royce & Associates LP now owns 624,307 shares of the company’s stock valued at $11,687,000 after purchasing an additional 57,590 shares during the period. Institutional investors and hedge funds own 45.44% of the company’s stock.

Mayville Engineering Stock Performance

NYSE MEC opened at $33.66 on Tuesday. The company has a fifty day simple moving average of $23.58 and a 200 day simple moving average of $20.45. Mayville Engineering Company, Inc. has a 12-month low of $12.10 and a 12-month high of $35.05. The company has a current ratio of 1.64, a quick ratio of 0.91 and a debt-to-equity ratio of 0.91. The company has a market cap of $689.71 million, a P/E ratio of -42.08 and a beta of 1.29.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings data on Tuesday, May 5th. The company reported ($0.15) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.13. Mayville Engineering had a negative return on equity of 5.77% and a negative net margin of 2.93%.The business had revenue of $144.78 million for the quarter, compared to analysts’ expectations of $139.18 million. Sell-side analysts predict that Mayville Engineering Company, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Mayville Engineering

In other Mayville Engineering news, SVP Craig D. Nichols sold 4,000 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $23.24, for a total transaction of $92,960.00. Following the transaction, the senior vice president directly owned 146 shares in the company, valued at approximately $3,393.04. This trade represents a 96.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ryan F. Raber sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $26.00, for a total value of $520,000.00. Following the transaction, the executive vice president owned 86,970 shares in the company, valued at approximately $2,261,220. This trade represents a 18.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 63,738 shares of company stock worth $1,716,390. Corporate insiders own 5.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MEC. Zacks Research raised shares of Mayville Engineering from a “strong sell” rating to a “hold” rating in a research report on Friday, March 6th. DA Davidson lifted their price target on shares of Mayville Engineering from $23.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, May 11th. Weiss Ratings downgraded shares of Mayville Engineering from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, March 5th. Citigroup lifted their price target on shares of Mayville Engineering from $25.00 to $33.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Northland Securities set a $30.00 price target on shares of Mayville Engineering in a research report on Thursday, May 7th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.75.

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.