BNP Paribas Financial Markets Has $626,000 Stock Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

BNP Paribas Financial Markets boosted its stake in Mayville Engineering Company, Inc. (NYSE:MEC) by 1,061.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,688 shares of the company’s stock after acquiring an additional 27,132 shares during the period. BNP Paribas Financial Markets’ holdings in Mayville Engineering were worth $626,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Mayville Engineering by 7.9% during the first quarter. Vanguard Group Inc. now owns 538,175 shares of the company’s stock valued at $7,712,000 after acquiring an additional 39,460 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mayville Engineering by 17.6% in the second quarter. Dimensional Fund Advisors LP now owns 517,323 shares of the company’s stock valued at $8,618,000 after acquiring an additional 77,486 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of Mayville Engineering by 404.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 250,785 shares of the company’s stock valued at $4,178,000 after acquiring an additional 201,047 shares during the period. Blair William & Co. IL increased its stake in shares of Mayville Engineering by 8.5% during the 2nd quarter. Blair William & Co. IL now owns 157,189 shares of the company’s stock worth $2,619,000 after purchasing an additional 12,299 shares during the last quarter. Finally, Anchor Capital Advisors LLC raised its holdings in shares of Mayville Engineering by 3.1% in the 2nd quarter. Anchor Capital Advisors LLC now owns 122,012 shares of the company’s stock worth $2,033,000 after purchasing an additional 3,687 shares during the period. Institutional investors and hedge funds own 45.44% of the company’s stock.

Mayville Engineering Price Performance

MEC stock opened at $17.28 on Friday. The stock has a market capitalization of $356.73 million, a price-to-earnings ratio of 29.29 and a beta of 0.90. The firm’s 50-day moving average price is $18.68 and its two-hundred day moving average price is $18.30. 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 12-month low of $11.07 and a 12-month high of $23.02.

Mayville Engineering (NYSE:MEC) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.05). Mayville Engineering had a net margin of 2.01% and a return on equity of 5.20%. The firm had revenue of $135.39 million for the quarter, compared to the consensus estimate of $157.22 million. During the same period in the previous year, the firm posted $0.21 earnings per share. As a group, equities analysts predict that Mayville Engineering Company, Inc. will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MEC. Northland Capmk downgraded shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 7th. Northland Securities lowered shares of Mayville Engineering from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $30.00 to $20.00 in a research note on Thursday, November 7th.

Insider Activity at Mayville Engineering

In related news, CEO Jagadeesh A. Reddy bought 5,903 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were bought at an average cost of $16.72 per share, with a total value of $98,698.16. Following the acquisition, the chief executive officer now owns 89,052 shares in the company, valued at $1,488,949.44. This trade represents a 7.10 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.40% of the stock is owned by insiders.

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.