Arrowstreet Capital Limited Partnership Purchases 80,905 Shares of Mayville Engineering Company, Inc. (NYSE:MEC)

Arrowstreet Capital Limited Partnership raised its position in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 47.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,396 shares of the company’s stock after purchasing an additional 80,905 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.22% of Mayville Engineering worth $3,968,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Sheets Smith Wealth Management increased its position in shares of Mayville Engineering by 3.2% during the fourth quarter. Sheets Smith Wealth Management now owns 36,525 shares of the company’s stock valued at $574,000 after acquiring an additional 1,130 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Mayville Engineering by 10.8% in the 4th quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock worth $228,000 after purchasing an additional 1,417 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Mayville Engineering by 5.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,252 shares of the company’s stock worth $722,000 after purchasing an additional 1,760 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Mayville Engineering by 8.3% during the fourth quarter. Ritholtz Wealth Management now owns 25,305 shares of the company’s stock valued at $398,000 after purchasing an additional 1,945 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Mayville Engineering by 5.1% during the fourth quarter. Sei Investments Co. now owns 48,570 shares of the company’s stock valued at $764,000 after buying an additional 2,353 shares during the last quarter. 45.44% of the stock is owned by hedge funds and other institutional investors.

Mayville Engineering Price Performance

Shares of MEC opened at $12.23 on Wednesday. The firm has a fifty day simple moving average of $14.53 and a two-hundred day simple moving average of $16.64. The firm has a market cap of $249.63 million, a PE ratio of 20.72 and a beta of 0.89. The company has a current ratio of 1.77, a quick ratio of 0.91 and a debt-to-equity ratio of 0.47. Mayville Engineering Company, Inc. has a 1-year low of $12.01 and a 1-year high of $23.02.

Wall Street Analyst Weigh In

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

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.