Jane Street Group LLC Grows Stock Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Jane Street Group LLC lifted its holdings in Mayville Engineering Company, Inc. (NYSE:MEC) by 25.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 14,235 shares of the company’s stock after buying an additional 2,909 shares during the period. Jane Street Group LLC’s holdings in Mayville Engineering were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. US Bancorp DE bought a new stake in shares of Mayville Engineering during the 3rd quarter valued at $60,000. Harvest Fund Management Co. Ltd purchased a new position in Mayville Engineering during the third quarter valued at $62,000. Quantbot Technologies LP bought a new stake in Mayville Engineering during the third quarter valued at about $70,000. Point72 Asset Management L.P. purchased a new stake in Mayville Engineering in the third quarter worth about $95,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Mayville Engineering in the second quarter worth about $189,000. 45.44% of the stock is currently owned by institutional investors.

Mayville Engineering Price Performance

MEC stock opened at $15.02 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.91 and a current ratio of 1.77. The company’s fifty day moving average price is $16.78 and its 200-day moving average price is $18.24. Mayville Engineering Company, Inc. has a one year low of $11.07 and a one year high of $23.02. The company has a market capitalization of $310.07 million, a PE ratio of 25.46 and a beta of 0.91.

Mayville Engineering (NYSE:MEC) last issued 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 return on equity of 5.20% and a net margin of 2.01%. The company 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 earned $0.21 earnings per share. On average, equities analysts anticipate that Mayville Engineering Company, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Northland Securities downgraded Mayville Engineering from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $30.00 to $20.00 in a research note on Thursday, November 7th. Northland Capmk downgraded shares of Mayville Engineering from a “strong-buy” rating to a “hold” rating in a report on Thursday, November 7th.

Insiders Place Their Bets

In other news, CEO Jagadeesh A. Reddy bought 5,903 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was purchased 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 directly 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 acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 6.40% of the stock is owned by company insiders.

About Mayville Engineering

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.