17,121 Shares in Mayville Engineering Company, Inc. (NYSE:MEC) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in Mayville Engineering Company, Inc. (NYSE:MEC) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,121 shares of the company’s stock, valued at approximately $269,000.

A number of other institutional investors also recently made changes to their positions in the company. Janney Montgomery Scott LLC acquired a new position in Mayville Engineering in the 4th quarter valued at $545,000. BNP Paribas Financial Markets raised its position in shares of Mayville Engineering by 1,061.5% in the third quarter. BNP Paribas Financial Markets now owns 29,688 shares of the company’s stock valued at $626,000 after buying an additional 27,132 shares in the last quarter. Franklin Resources Inc. acquired a new stake in Mayville Engineering during the third quarter worth approximately $334,000. Geode Capital Management LLC raised its stake in Mayville Engineering by 5.4% in the third quarter. Geode Capital Management LLC now owns 277,679 shares of the company’s stock valued at $5,855,000 after purchasing an additional 14,118 shares in the last quarter. Finally, Principal Financial Group Inc. acquired a new stake in shares of Mayville Engineering during the 3rd quarter worth approximately $276,000. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of MEC opened at $12.63 on Friday. The company has a quick ratio of 0.91, a current ratio of 1.77 and a debt-to-equity ratio of 0.47. The stock has a market cap of $257.88 million, a PE ratio of 21.41 and a beta of 0.89. Mayville Engineering Company, Inc. has a 12-month low of $12.01 and a 12-month high of $23.02. The business has a 50-day simple moving average of $14.36 and a two-hundred day simple moving average of $16.51.

Analyst Ratings Changes

Separately, Citigroup lowered their target price on Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a research note on Thursday, March 6th.

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.