Sheets Smith Wealth Management Purchases 1,665 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Sheets Smith Wealth Management grew its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,890 shares of the company’s stock after acquiring an additional 1,665 shares during the period. Sheets Smith Wealth Management owned about 0.18% of Mayville Engineering worth $518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in MEC. Tocqueville Asset Management L.P. lifted its holdings in shares of Mayville Engineering by 10.6% in 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 last quarter. Anchor Capital Advisors LLC grew its position in Mayville Engineering by 76.4% in the 4th quarter. Anchor Capital Advisors LLC now owns 95,749 shares of the company’s stock valued at $1,381,000 after acquiring an additional 41,471 shares during the last quarter. Avior Wealth Management LLC purchased a new stake in Mayville Engineering during the 4th quarter worth approximately $150,000. Ancora Advisors LLC increased its stake in Mayville Engineering by 53.9% during the 3rd quarter. Ancora Advisors LLC now owns 164,877 shares of the company’s stock valued at $1,809,000 after purchasing an additional 57,764 shares in the last quarter. Finally, UBS Group AG lifted its stake in shares of Mayville Engineering by 15.4% during the third quarter. UBS Group AG now owns 220,498 shares of the company’s stock worth $2,419,000 after buying an additional 29,348 shares during the period. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

MEC traded up $0.04 during trading on Monday, hitting $13.93. The company’s stock had a trading volume of 45,900 shares, compared to its average volume of 50,368. The business’s fifty day simple moving average is $13.49 and its 200 day simple moving average is $13.05. Mayville Engineering Company, Inc. has a twelve month low of $9.55 and a twelve month high of $15.50. The firm has a market capitalization of $283.61 million, a price-to-earnings ratio of 36.55 and a beta of 0.84. The company has a current ratio of 1.88, a quick ratio of 0.93 and a debt-to-equity ratio of 0.64.

Mayville Engineering (NYSE:MEC) last issued its quarterly earnings results on Wednesday, March 6th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.05). Mayville Engineering had a return on equity of 6.58% and a net margin of 1.33%. The firm had revenue of $148.58 million during the quarter, compared to analyst estimates of $157.08 million. During the same period in the prior year, the firm earned $0.22 earnings per share. On average, equities research analysts forecast that Mayville Engineering Company, Inc. will post 0.66 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.