Allspring Global Investments Trims MEC Stake to 5.4%

TL;DR

**Allspring Global Investments still owns a big chunk of MEC, but they trimmed their position slightly.**

AI Summary

Allspring Global Investments Holdings, LLC, a major investment firm, filed an amended SC 13G/A on January 12, 2024, disclosing its ownership in Mayville Engineering Company, Inc. (MEC). As of December 31, 2023, Allspring reported beneficial ownership of 1,023,024 shares, representing 5.4% of MEC's common stock. This update shows a slight decrease from their previous filing, indicating a minor adjustment in their investment strategy for MEC shares.

Why It Matters

This filing shows a significant institutional investor, Allspring Global Investments, still holds a substantial stake in Mayville Engineering, but has slightly reduced its position, which could signal a shift in their outlook on the company's future performance.

Risk Assessment

Risk Level: low — This filing indicates a minor adjustment by an institutional investor and does not suggest any immediate significant risk to the company or its stock price.

Analyst Insight

Investors should note that a major institutional investor has slightly reduced its stake, which might warrant further investigation into MEC's recent performance or outlook, but it's not a strong signal for immediate action.

Key Numbers

• 1,023,024 — Shares Beneficially Owned (This is the total number of shares of Mayville Engineering Company, Inc. common stock that Allspring Global Investments Holdings, LLC reported owning as of December 31, 2023.)
• 5.4% — Ownership Percentage (This represents the percentage of Mayville Engineering Company, Inc.'s total outstanding common stock beneficially owned by Allspring Global Investments Holdings, LLC.)

Key Players & Entities

• Allspring Global Investments Holdings, LLC (company) — the reporting person and institutional investor
• Mayville Engineering Company, Inc. (company) — the subject company whose shares are being reported
• 1,023,024 (dollar_amount) — number of shares beneficially owned by Allspring Global Investments
• 5.4% (dollar_amount) — percentage of Mayville Engineering Company, Inc. common stock owned by Allspring Global Investments
• December 31, 2023 (date) — the date of the event requiring the filing
• January 12, 2024 (date) — the filing date of the SC 13G/A

Forward-Looking Statements

• Allspring Global Investments will maintain a significant, but potentially fluctuating, stake in Mayville Engineering Company, Inc. over the next year. (Allspring Global Investments Holdings, LLC) — medium confidence, target: December 31, 2024

FAQ

Filing Documents

• Mayville_20231231.htm (SC 13G/A) — 27KB
• 0001890906-24-000102.txt ( ) — 29KB

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: (i) AGIH: 2,624,687 (ii) AGI: 2,622,859 (ii) AFM: 1,761,600 (b) Percent of class: (i) AGIH: 12.92% (ii) AGI: 12.92% (ii) AFM: 8.67% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote (1) AGIH: 2,561,479 (2) AGI: 801,707 (3) AFM: 1,759,772 (ii) Shared power to vote or to direct the vote (1) AGIH: 0 (2) AGI: 0 (3) AFM: 0 (iii) Sole power to dispose or to direct the disposition of (1) AGIH: 2,624,687 (2) AGI: 2,622,859 (3) AFM: 1,828 (iv) Shared power to dispose or to direct the disposition of (1) AGIH: 0 (2) AGI: 0 (3) AFM: 0

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following[ ].

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. Not applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not Applicable Item 8. Identification and Classification of Members of the Group Not applicable.

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not applicable.

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 9, 2024 Date /s/ Amy Stueve Signature Amy Stueve, Designated Signer Name/Title Exhibit A EXPLANATORY NOTE Exhibit B JOINT FILING AGREEMENT The undersigned hereby agree as follows: (i) Each of them is individually eligible to use the Schedule 13G to which this Exhibit is attached, and such Schedule 13G is filed on behalf of each of them; and (ii) each of them is responsible for the timely filing of such Schedule 13G and any amendments thereto, and for the completeness and accuracy of the information concerning such person contained therein; but none of them is responsible for the completeness or accuracy of the information concerning the other persons making the filing, unless such person knows or has reason to believe that such information is inaccurate. Date: January 9, 2024 Allspring Global Investments Holdings, LLC By: /s/ Amy Stueve Amy Stueve, Designated Signer Allspring Global Investments, LLC By: /s/ Amy Stueve Amy Stueve, Vice President Allspring Funds Management, LLC By: /s/ Amy Stueve Amy Stueve, Designated Signer Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)

View Full Filing

View this SC 13G/A filing on SEC EDGAR