Perritt Capital Management Inc Has $500,000 Stock Holdings in Mayville Engineering Company, Inc. (NYSE:MEC)

Perritt Capital Management Inc decreased its position in Mayville Engineering Company, Inc. (NYSE:MEC) by 14.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the company’s stock after selling 5,000 shares during the period. Perritt Capital Management Inc owned about 0.15% of Mayville Engineering worth $500,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Mayville Engineering during the first quarter valued at approximately $73,000. BNP Paribas Financial Markets increased its holdings in Mayville Engineering by 49.6% in the 1st quarter. BNP Paribas Financial Markets now owns 5,426 shares of the company’s stock valued at $78,000 after buying an additional 1,799 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Mayville Engineering in the 1st quarter valued at $147,000. Ritholtz Wealth Management bought a new position in shares of Mayville Engineering during the 2nd quarter worth about $191,000. Finally, Rhumbline Advisers boosted its position in shares of Mayville Engineering by 49.1% during the 2nd quarter. Rhumbline Advisers now owns 19,281 shares of the company’s stock valued at $321,000 after acquiring an additional 6,348 shares in the last quarter. Institutional investors own 45.44% of the company’s stock.

Mayville Engineering Price Performance

Shares of MEC stock opened at $18.69 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.71 and a quick ratio of 0.97. The stock’s fifty day simple moving average is $18.51 and its 200 day simple moving average is $16.01. Mayville Engineering Company, Inc. has a one year low of $9.72 and a one year high of $19.94. The firm has a market cap of $383.65 million, a price-to-earnings ratio of 44.50 and a beta of 0.95.

Mayville Engineering (NYSE:MEC) last issued its earnings results on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $163.64 million for the quarter, compared to the consensus estimate of $160.38 million. Mayville Engineering had a net margin of 1.69% and a return on equity of 5.81%. On average, analysts expect that Mayville Engineering Company, Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Northland Securities increased their price target on shares of Mayville Engineering from $20.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, June 14th.

Insiders Place Their Bets

In other news, EVP Ryan F. Raber sold 21,508 shares of Mayville Engineering stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $19.15, for a total value of $411,878.20. Following the completion of the transaction, the executive vice president now owns 97,053 shares in the company, valued at $1,858,564.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

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.