Mayville Engineering (NYSE:MEC) Raised to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of Mayville Engineering (NYSE:MEC) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

MEC has been the topic of several other research reports. DA Davidson assumed coverage on Mayville Engineering in a report on Tuesday, June 17th. They set a “buy” rating and a $23.00 price target on the stock. Northland Securities upgraded Mayville Engineering from a “market perform” rating to an “outperform” rating and set a $18.00 price target on the stock in a report on Tuesday. Finally, Citigroup reiterated a “buy” rating and set a $21.00 price target (up previously from $17.00) on shares of Mayville Engineering in a report on Monday, July 14th.

Mayville Engineering Stock Down 2.5%

NYSE MEC opened at $14.57 on Tuesday. Mayville Engineering has a 52 week low of $11.72 and a 52 week high of $23.02. The company has a quick ratio of 0.86, a current ratio of 1.63 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $15.73 and its 200-day simple moving average is $14.80. The firm has a market cap of $296.04 million, a PE ratio of 17.14 and a beta of 1.19.

Insider Transactions at Mayville Engineering

In related news, CEO Jagadeesh A. Reddy acquired 7,500 shares of Mayville Engineering stock in a transaction that occurred on Thursday, August 7th. The shares were purchased at an average cost of $14.06 per share, for a total transaction of $105,450.00. Following the acquisition, the chief executive officer owned 146,285 shares in the company, valued at approximately $2,056,767.10. This represents a 5.40% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have bought 9,400 shares of company stock valued at $131,942. 7.20% of the stock is currently owned by insiders.

Institutional Trading of Mayville Engineering

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its holdings in Mayville Engineering by 13.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 704,659 shares of the company’s stock valued at $11,077,000 after buying an additional 85,086 shares during the period. Royce & Associates LP boosted its stake in shares of Mayville Engineering by 1.2% in the first quarter. Royce & Associates LP now owns 591,319 shares of the company’s stock valued at $7,941,000 after purchasing an additional 7,022 shares during the period. Granahan Investment Management LLC grew its holdings in shares of Mayville Engineering by 71.2% in the fourth quarter. Granahan Investment Management LLC now owns 578,967 shares of the company’s stock valued at $9,101,000 after purchasing an additional 240,752 shares in the last quarter. Nokomis Capital L.L.C. grew its holdings in shares of Mayville Engineering by 270.0% in the fourth quarter. Nokomis Capital L.L.C. now owns 449,792 shares of the company’s stock valued at $7,071,000 after purchasing an additional 328,223 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in shares of Mayville Engineering by 304.8% in the second quarter. Blair William & Co. IL now owns 373,448 shares of the company’s stock valued at $5,960,000 after purchasing an additional 281,198 shares in the last quarter. 45.44% of the stock is currently owned by hedge funds and other institutional investors.

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.