Royce & Associates LP lowered its stake in shares of Matrix Service Company (NASDAQ:MTRX – Free Report) by 78.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 120,782 shares of the company’s stock after selling 430,000 shares during the period. Royce & Associates LP owned about 0.43% of Matrix Service worth $1,413,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of MTRX. Westerly Capital Management LLC boosted its stake in shares of Matrix Service by 34.1% during the 3rd quarter. Westerly Capital Management LLC now owns 1,100,000 shares of the company’s stock valued at $14,388,000 after buying an additional 280,000 shares during the period. AQR Capital Management LLC boosted its stake in shares of Matrix Service by 601.5% during the 1st quarter. AQR Capital Management LLC now owns 291,804 shares of the company’s stock valued at $3,627,000 after buying an additional 250,206 shares during the period. Millennium Management LLC boosted its stake in shares of Matrix Service by 46.5% during the 3rd quarter. Millennium Management LLC now owns 630,396 shares of the company’s stock valued at $8,246,000 after buying an additional 200,189 shares during the period. CenterBook Partners LP boosted its stake in shares of Matrix Service by 81.7% during the 3rd quarter. CenterBook Partners LP now owns 407,721 shares of the company’s stock valued at $5,333,000 after buying an additional 183,288 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in shares of Matrix Service by 482.6% during the 4th quarter. GSA Capital Partners LLP now owns 212,213 shares of the company’s stock valued at $2,483,000 after buying an additional 175,788 shares during the period. Institutional investors and hedge funds own 78.38% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have commented on MTRX shares. DA Davidson reissued a “buy” rating and issued a $17.00 target price on shares of Matrix Service in a research report on Friday, February 6th. Northland Securities set a $24.00 price target on shares of Matrix Service in a report on Wednesday, February 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Matrix Service in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.50.
Insider Buying and Selling
In related news, CEO John R. Hewitt sold 36,000 shares of Matrix Service stock in a transaction on Friday, May 8th. The shares were sold at an average price of $12.50, for a total value of $450,000.00. Following the transaction, the chief executive officer owned 581,806 shares in the company, valued at $7,272,575. This trade represents a 5.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.40% of the stock is owned by company insiders.
Matrix Service Price Performance
Shares of MTRX opened at $13.13 on Friday. The company has a market capitalization of $369.35 million, a PE ratio of -24.77, a price-to-earnings-growth ratio of 2.92 and a beta of 1.02. Matrix Service Company has a one year low of $9.88 and a one year high of $16.10. The company’s fifty day moving average price is $12.17 and its 200 day moving average price is $12.04.
Matrix Service (NASDAQ:MTRX – Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $206.71 million for the quarter, compared to the consensus estimate of $231.52 million. Matrix Service had a negative net margin of 1.77% and a negative return on equity of 3.60%. Analysts anticipate that Matrix Service Company will post 0.25 earnings per share for the current year.
Matrix Service Profile
Matrix Service Company (NASDAQ: MTRX) is a provider of engineered construction, fabrication and maintenance services to the energy, industrial and power markets. The firm offers a full suite of engineering, procurement and construction (EPC) solutions for clients in the oil and gas, petrochemical, refining, mining, fertilizer and power generation industries. Its capabilities span from front-end engineering design through plant commissioning, with specializations in modular process skid fabrication, structural steel erection and complex piping systems.
The company’s service portfolio includes onshore and offshore pipe fabrication, equipment setting, industrial maintenance and shutdown services, electrical and instrumentation installation, and skid-mount and modular construction.
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