Riverwater Partners LLC Cuts Stock Position in Mayville Engineering Company, Inc. (NYSE:MEC)

Riverwater Partners LLC decreased its stake in shares of Mayville Engineering Company, Inc. (NYSE:MEC) by 7.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 21,577 shares of the company’s stock after selling 1,760 shares during the quarter. Riverwater Partners LLC’s holdings in Mayville Engineering were worth $339,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of Mayville Engineering by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 14,529 shares of the company’s stock valued at $228,000 after acquiring an additional 1,417 shares in the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Mayville Engineering by 91.3% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 122,055 shares of the company’s stock valued at $2,573,000 after purchasing an additional 58,242 shares in the last quarter. Geode Capital Management LLC increased its stake in Mayville Engineering by 5.4% during the 3rd 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. BNP Paribas Financial Markets lifted its stake 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 worth $626,000 after buying an additional 27,132 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of Mayville Engineering by 44.2% during the third quarter. Barclays PLC now owns 37,486 shares of the company’s stock valued at $790,000 after buying an additional 11,489 shares during the last quarter. Hedge funds and other institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

NYSE MEC opened at $12.53 on Friday. Mayville Engineering Company, Inc. has a one year low of $12.09 and a one year high of $23.02. The stock has a 50-day moving average of $14.75 and a 200 day moving average of $16.81. 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 has a market capitalization of $255.86 million, a price-to-earnings ratio of 21.24 and a beta of 0.89.

Analyst Ratings Changes

Separately, Citigroup decreased their price objective on shares of Mayville Engineering from $22.00 to $18.00 and set a “buy” rating for the company in a 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.